Investors charged back into the markets Friday, lifting bank stocks 3% to 4% and the Dow Jones industrial average 2.47% as fears of interest rate hikes diminished on reports of lower-than-expected job growth.

Generally, regional banks did better than money-center banks. The Nasdaq bank index, which includes 721 banks, climbed 4.36%, while the Standard & Poor's index of 31 of the biggest banks rose 2%. The Dow Jones industrial average climbed 2.2%, and the S&P 500 rose 2.9%.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.