U.S. stocks rallied on Friday, snapping a five-day losing streak in the S&P 500, as financial, commodity-related and other beaten-down shares rebounded.
U.S. oil prices settled 12.3 percent higher, boosting energy shares <.SPNY> 2.6 percent. The materials sector jumped 2.9 percent.
Investors also snapped up battered shares of financials. U.S.-listed shares of Deutsche Bank <DB.N> were up 12 percent at $17.38, while the S&P financial index rallied 4 percent, its largest daily percentage gain since November 2011.
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U.S. oil prices settled 12.3 percent higher, boosting energy shares <.SPNY> 2.6 percent. The materials sector jumped 2.9 percent.
Investors also snapped up battered shares of financials. U.S.-listed shares of Deutsche Bank <DB.N> were up 12 percent at $17.38, while the S&P financial index rallied 4 percent, its largest daily percentage gain since November 2011.
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