U.S. stocks extend Fed-fueled rally to close higher; Dow leads weekly gains, up 2%

NEW YORK (MarketWatch)
U.S. stocks on Friday sealed a second weekly rise, still basking in the aftermath of central-bank moves
Stocks have been climbing for much of the recent summer, rallying around 4% in the last two weeks
"A good amount of this move was the fact that Europe has moved away from its Lehman moment," said Bill Stone, chief investment strategist at PNC Wealth Management
Up for an eighth week in 10, the Dow Jones Industrial Average rose 53.51 points, or 0.4%, to 13,593.37, gaining 2.2% from last week's close
The S&P 500 up 0.4%, to 1,465.77, rising 1.9% on the week
The Nasdaq Composite  advanced 28.12 points, or 0.9%, to 3,183.95, posting a 1.5% weekly rise Stone downplayed the downgrade by Egan-Jones Ratings Co. of its U.S. sovereign rating to AA- from AA
"People know of it, but it's not S&P or Moody's. I'd be doubtful that would have some sort of major market-moving impact."