Wall Street added to its recent gains Friday as stocks closed higher, driving the Standard & Poor’s 500 index to its best week since July.
rose 3.8% and Alcoa surged 15.2% after it beat earnings expectations and announced a dividend payment and buyback of its stock.than Wall Street expected. Sales at stores, restaurants and other retail establishments rose 0.7% from August instead of falling, as economists forecast.“We saw retail sales this morning come in pretty strong,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.
Earnings reporting season has just begun, but early indicators are encouraging. All but one of the 19 companies in the S&P 500 that reported quarterly results this week topped analysts’ profit forecasts. Such strength is crucial after climbing interest rates heightened worries that stock prices had grown too expensive relative to profits.The owner of Kip’s Toyland thinks he’s outsmarted the global supply chain gridlock that is threatening the holiday shopping season.
Still, stocks of companies whose profits are most closely tied to the strength of the economy — including retailers, automakers and travel-related businesses — led the way higher Friday. Amazon rose 3.3%, Tesla added 3% and Marriott International gained 3.1%. Treasury yields also rose after the much-stronger-than-expected report on retail sales. The yield on the 10-year note climbed to 1.57% from 1.52% late Thursday.
Tech stocks in the S&P 500 fared a little better Friday, matching the broader market with a 0.8% gain. The communication-services sector that includes many internet companies slipped 0.1%.
wow
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 sees biggest weekly rise since July as stocks rally on earningsStocks ended higher Friday, booking solid weekly gains for major indexes as investors cheered a strong start to earnings season and data showing stronger-than-expected September retail sales. The DJIA, advanced around 383 points, to close near 35,295. ok Lets go $NAKD. nakdarmy nakd Stocks ended higher, but not NAKD. Nothing but crickets. NAKDARMY
Source: MarketWatch - 🏆 3. / 97 Read more »
France sees the biggest spike in Covid cases since July – latest updatesFrance sees a spike in cases just as free testing for unvaccinated people ends. Other Covid19 updates: 🇺🇸 US to reopen borders to vaccinated travellers Nov 8 🇧🇷 Brazil sees 15,239 cases 🇲🇽 Mexico reports 434 more deaths For more: Here is a look at Covid19 updates from around the world: 🇳🇿 New Zealand administers record number of jabs 🇷🇺 Russia tops 1,000 daily virus deaths for first time 🇩🇪 Germany records 75 more fatalities For more:
Source: trtworld - 🏆 101. / 63 Read more »
S&P 500 sees biggest weekly rise since July as stocks rally on earningsStocks ended higher Friday, booking solid weekly gains for major indexes as investors cheered a strong start to earnings season and data showing stronger-than-expected September retail sales. The DJIA, advanced around 383 points, to close near 35,295. ok Lets go $NAKD. nakdarmy nakd Stocks ended higher, but not NAKD. Nothing but crickets. NAKDARMY
Source: MarketWatch - 🏆 3. / 97 Read more »
Stock futures are flat after S&P has best day since March on strong earningsU.S. stock index futures were little changed during overnight trading on Thursday. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her Bowser_51 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success
Source: CNBC - 🏆 12. / 72 Read more »
Your index funds may not be as diversified as you thinkHaving 50 times the dollar investment in Apple as you do in Ford is a growing danger of S&P 500 ETFs and funds. Here’s how to lower your risk. horrible
Source: MarketWatch - 🏆 3. / 97 Read more »
Ben Affleck Plays HimselfBecoming a tabloid star gave Ben Affleck his best role ever, writes alisonwillmore
Source: NYMag - 🏆 111. / 63 Read more »