N環球 
US Stocks Close Higher Friday, Logging Weekly Gains as Earnings Season Nears
Wall Street ended Friday higher, with the Dow, S&P 500 and Nasdaq all posting weekly gains; the Nasdaq rose for a fourth straight week. Third-quarter earnings season kicks off next week, led by JPMorgan, with analysts expecting S&P 500 EPS growth above 30%.
Why it matters
US stocks head into third-quarter earnings season on a firm footing. All three major indexes closed higher on Friday and logged weekly gains, setting the tone ahead of next week's bank earnings.
Closing numbers
The Dow Jones Industrial Average rose 0.83% (423.31 points) to close at 51,654.95; the S&P 500 gained 0.59% (46.15 points) to 7,811.54; and the Nasdaq Composite added 0.64% (172.83 points) to 27,366.17.
The Nasdaq has now risen for four consecutive weeks, and both it and the S&P 500 touched record highs earlier in the week. The Russell 2000 small-cap index finished Friday below last Friday's close, showing this week's advance was led by large caps.
The 10-year Treasury yield held near 5.25% on Friday, below the 24-year high of 5.364% hit on Wednesday. WTI and Brent crude futures each settled 0.4% higher after retreating earlier on Trump's remarks about Iran.
Earnings season ahead
Third-quarter earnings season officially begins next week, with JPMorgan reporting first on Tuesday, followed by Wells Fargo, Goldman Sachs, Citigroup, Bank of America and Morgan Stanley.
LSEG data shows analysts expect S&P 500 third-quarter earnings per share to grow 30.6% from a year earlier, led by the energy sector at 123% and technology at 66.5%.
A University of Michigan survey showed US consumers' short-term expectations fell to a record low; consumer spending accounts for about 70% of the US economy, making it another focus alongside earnings.
Sources: TradingView/Moneycontrol, devdiscourse, hkbusinesswire and stocktwits reporting after the October 9 US market close.
💬 Comments
No comments yet. Be the first!