The S&P 500 and Dow Jones Industrial Average powered to new highs on Friday and capped off a winning week as banking behemoths ushered in a promising start to the third-quarter earnings season.
The broad index gained 0.6% to end at 5,815.03, while the Dow rallied 409.74 points, or nearly 1%, to finish at 42,863.86.
The S&P and Nasdaq jumped 1.1% each, while the Dow toted a 1.2% gain.
A strong start to the third-quarter earnings season provided a lift to stocks.
That included a cooler-than-expected September producer price index reading after the consumer price index increased slightly more than expected.
Persons:
—, ”, Craig Sterling, JPMorgan Chase, Wells, Kim Forrest, Forrest, Stocks, Goldman Sachs, David Russell, “
Organizations:
Dow Jones Industrial, Dow, Nasdaq, JPMorgan, Bokeh Capital Partners, “, Federal, Federal Reserve