NEW YORK, Oct. 11 (Xinhua) -- U.S. stocks continued to rebound Friday after Thursday's skyrocket, but finished the week mixed, boosted by market optimism on a possible fiscal deal in Washington.
The Dow Jones Industrial Average jumped 111.04 points, or 0.73 percent, to 15,237.11 points. The Standard & Poor 500-stock Index added 10.64 points, or 0.63 percent, to 1,703.20 points. The Nasdaq Composite Index rallied 31.12 points, or 0.83 percent, to 3, 791.87 points.
For the week, the blue-chip Dow and the S&P 500 increased 1.1 percent and 0.8 percent, respectively. While the Nasdaq lost 0.4 percent.
U.S. President Barack Obama has reached out to Republican leaders in an effort to solve the fiscal deadlock that has led to a partial government shutdown for almost two weeks.
Obama met with House Republicans Thursday in a one-and-a-half- hour meeting led by House Speaker John Boehner and House Majority Leader Eric Cantor.
Although no decision was made at the meeting on how to end the government shutdown or raise the country's debt limit, this is the first serious talk between Obama and the Republicans during this fiscal tug-of-war. And both sides kept negotiating in a bid to break the impasse.
In corporate news, U.S. banking giants JPMorgan Chase and Wells Fargo ushered Friday in a third-quarter earnings season for financials, setting a lackluster tone.
JPMorgan Chase, the largest U.S. bank by assets, reported net loss of 0.4 billion U.S. dollars for the third quarter of 2013 after spending 7.2 billion dollars on legal expense in the quarter. Meanwhile, Wells Fargo, the largest U.S. home lender, reported record net income of 5.6 billion dollars for the third quarter. But its revenue dropped 3 percent to 20.5 billion dollars from a year ago.
On the economic front, the preliminary reading of the U.S. consumer confidence index in October fell to 75.2, the lowest level in nine months, as the government shutdown dampened Americans' outlook on the economy, according to the monthly Thomson Reuters/University of Michigan survey of consumers.
The CBOE Volatility Index, widely considered as a fear gauge of the market, slumped 4.61 percent to end at 15.72.
On the previous trading day, major stock indices soared over 2 percent, logging their second-best gains of this year, on hopes of fiscal progress.
In other markets, oil prices dropped Friday on profit taking. Light, sweet crude for November delivery decreased 96 cents to settle at 102.02 dollars a barrel on the New York Mercantile Exchange. While Brent crude for November delivery lost 52 cents to close at 111.28 dollars a barrel.
Gold future for December delivery on the COMEX division of the New York Mercantile Exchange fell 28.7 dollars to settle at 1,268. 2 dollars per ounce as a possible breakthrough in the Washington standoff drew investors away from the safe haven on Friday.
The U.S. dollar traded mixed against major currencies Friday amid rising hopes that U.S. lawmakers will reach a deal to avoid a catastrophic debt default.
In late New York trading, the euro rose to 1.3553 dollars from 1.3535 dollars of the previous session, and the British pound decreased to 1.5960 dollars from 1.5978 dollars.