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U.S. stocks rose Friday as better-than-expected third-quarter earnings reports boosted the Dow Jones Industrial Average to its best weekly performance since June.
The Dow Jones hiked 382.20 points, or 1.1%, to 35,294.76.
The S&P 500 increased 33.11 points to 4,471.37.
The NASDAQ Composite spiked 73.91 points to 14,897.34.
The three major indexes closed the week higher and are positive on the month.
Earnings momentum continued Friday as Goldman Sachs’ third-quarter results beat significantly on the top and bottom line. The bank stock gained more than 3.8%, and proved the top gainer on the Dow.
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 94 cents to $82.25 U.S. a barrel.
Gold prices slumped $28.90 to $1,769.00 U.S. an ounce.
