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Wall Street claws back after sharp decline, banks lead

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NEW YORK (Reuters) – Stocks ended higher on Friday, led by gains in bank shares, as the S&P 500 index bounced back from its second-worst decline of the year. The gains were not enough to push stocks into positive territory for the week, however. Bank shares, among the worst hit on Thursday, rose after Moody’s Investors Service announced credit downgrades for 15 of the world’s largest banks. The downgrades had been expected, but some were less severe than feared, which helped boost those shares on Friday. Dow component JPMorgan Chase & Co shares rose 1. 4 percent to $35. 99 following a 2. . . .

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