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U.S. stock indexes rose on Friday as better-than-expected third-quarter earnings reports set the S&P 500 on track for a winning week.
The Dow Jones hiked 289.83 points to 35,202.39.
The S&P 500 increased 26.28 points to 4,464.39.
The NASDAQ Composite spiked 50.59 points to 14,874.02.
All three averages are on track to end the week higher.
So far, 80.5% of the 41 S&P 500 companies that have reported third-quarter results have topped earnings-per-share expectations.
Earnings momentum continued Friday as Goldman Sachs’ third-quarter results beat significantly on the top and bottom line. The bank stock gained more than 2%.
The stellar report came after earnings beats from other big banks earlier in the week. Financial heavyweights JPMorgan, Bank of America, Morgan Stanley and Citigroup were among the firms topping expectations.
Retail sales posted a surprise increase in September, rising 0.7%. Economists polled by Dow Jones were expecting a 0.2% decline.
The University of Michigan Consumer Sentiment reading also was published this morning.
Prices for 10-year Treasurys gained, lowering yields to 1.57% from Thursday’s 1.51 %. Treasury prices and yields move in opposite
directions.
Oil prices jumped 98 cents to $82.29 U.S. a barrel.
Gold prices slumped $23.70 to $1,774.20 U.S. an ounce.
