The broad indices all ended with gains, following European markets higher after Chinese Premier Li Keqiang said at an economic development seminar that his government was prepared to take further measures, "to maintain economic growth at a reasonable range."
Back home, the Bureau of Economic Analysis said personal income and personal spending in February both rose by 0.3%. Those results matched the consensus expectations of economists, according to Zacks.
The University of Michigan's Index of Consumer Sentiment for March fell to a reading of 80 -- its lowest reading in four months -- from 81.6 in February. This was in contrast to the Conference Board's Consumer Confidence Index for March, which on Tuesday came in at 82.3, increasing from 78.3 in February. The Michigan reading for March was revised upward from the previous estimate of 79.9, but came in below the consensus estimate of 80.6.
The BKW Bank Index (I:BKX) rounded out the week with a 0.5% increase to 71.44, with all 24 index components ending with gains, except for Citigroup (C), which was down 0.4% to $47.25, and Bank of America (BAC), which was down 0.2% to close at $16.98.
Please see Citigroup's Business Model Is 'Not Sustainable,' for more negative fallout the rejection of the bank's 2014 capital plan by the Federal Reserve on Wednesday. The Fed's decision was a surprise to the bank and to analysts, since it was not based on any deficiency in capital but was based on "qualitative" concerns. Citi's stock was down nearly 6% from a week earlier.