https://apnews.com/34419433f640457aa0f41fa6e188c150

NEW YORK (AP) — U.S. stocks are rising Friday, and banks are rallying after the Federal Reserve approved their plans to pay bigger dividends and buy back billions of dollars in stock. Nike is surging after it reported strong results in its latest quarter including improved sales in North America. Technology and consumer-focused stocks are leading the way once again as the second quarter concludes.

KEEPING SCORE: The S&P 500 index jumped 17 points, or 0.6 percent, to 2,733 as of 2:40 p.m. Eastern time. The Dow Jones Industrial Average gained 206 points, or 0.9 percent, to 24,422. The Nasdaq composite rose 41 points, or 0.6 percent, to 7,545. The Russell 2000 index of smaller-company stocks gained 4 points, or 0.3 percent, to 1,649.