US Markets Rally led by Banks

US Markets gained on Friday led by banking stocks and better than expected US job losses data.Dow Jones gained 164.80,or 1.96 percent , to 8,574.65. Nasdaq composite index gained 22.76, or 1.33 percent, to 1,739.00.Standard & Poor's 500 index rose 21.84, or 2.41 percent, to 929.23.Bank stocks rallied between 5 and 20 percent.JPMorgan Chase Inc gained 10.5 percent,Wells Fargo rose 13.8 percent,Bank of America gained 4.9 percent.For the week, the Dow gained 4.4 percent, the S&P 500 rose 5.9 percent, and the Nasdaq advanced 1.2 percent.Asian and European markets both ended higher. Crude oil for June delivery rose $1.92 to settle at $58.63 a barrel on the New York Mercantile Exchange,up 10 percent from a week ago.Dollar fell versus major currencies.