Stocks Closed Higher, Capping a Four-week Rally

U.S. stocks finished higher on Friday, clinching their fourth straight weekly gain, as oil prices rose and investors took a more positive view of Thursday’s European Central Bank announcements on stimulus. The Dow industrials rose 218.18 points, or 1.28%, to 17,213.31. The S&P 500 added 32.62 points, or 1.64%, to 2,022.19. The Nasdaq Composite gained 86.31 points, or 1.85%, to 4,748.47.

Oil futures settled higher Friday to score a 7.2% gain for the week. April West Texas Intermediate crude rose 66 cents, or 1.7%, to settle at $38.50 a barrel on the New York Mercantile Exchange.

Two Detroit automakers announced moves into Silicon Valley on Friday as the companies race to compete in the new era of ride- sharing and self-driving cars. General Motors on Friday said that it was acquiring the software firm Cruise Automation as part of its larger effort to develop fully autonomous vehicles.

Intel Corp is looking to sell part of its venture capital portfolio, assets that could be worth as much as $1 billion, Bloomberg reported.