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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 279.83 points to 35,192.20.
The S&P 500 increased 24.43 points to 4,462.69.
The NASDAQ Composite spiked 42.66 points to 14,866.09.
All three averages are on track to end the week higher.
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.
So far, 80.5% of the 41 S&P 500 companies that have reported third-quarter results have topped earnings-per-share expectations.
Retail sales posted a surprise increase in September, rising 0.7%. Economists polled by Dow Jones were expecting a 0.2% decline.
Prices for 10-year Treasurys gained, lowering yields to 1.58% from Thursday’s 1.51 %. Treasury prices and yields move in opposite directions.
Oil prices jumped 89 cents to $82.20 U.S. a barrel.
Gold prices slumped $30.00 to $1,767.90 U.S. an ounce.
