U.S. stocks closed sharply higher on Friday for a second straight weekly gain. But despite Friday's big rise, the main indexes ended January with steep monthly losses of 5% to 8%. The S&P 500 gained 46.65 points, or 2.5%, to 1,940.02 and gained 1.7% over the week. The main benchmark fell 5% over the month. The Dow Jones Industrial Average gained 394.45 points, or 2.5%, to 16,466.09 and booked a 2.3% weekly gain. Meanwhile, the Nasdaq Composite ended the day up 107.28 points, or 2.4%, at 4,613.95 and finished the week roughly where it started it.