NEW YORK: U.S. stocks leapt on Friday, July 28th, encouraged by data on Gross Domestic Product that suggested the Federal Reserve might soon be finished raising interest rates. A steep drop in oil prices gave investors another reason to buy stocks.

All three major indexes rose more than 1 percent.

The Dow Jones industrial average was up 119.27 points, or 1.07%, to unofficially end at 11,219.70. The Standard & Poor's 500 Index was up 15.35 points, or 1.22%, unofficially finishing at 1,278.55. The NASDAQ Composite Index was up 39.67 points, or 1.93%, unofficially closing at 2,094.14.

For the week, the Dow went up 3.23%, the S&P 500 rose 3.08%, and the NASDAQ rose 3.65%.