U.S. stocks closed higher on Friday as investors digested third quarter earnings reports and major economic data.
The Dow Jones Industrial Average added 30.71 points, or 0.13 percent, to 22,871.72. The S&P 500 was up 2.24 points, or 0.09 percent, to 2,553.17. The Nasdaq Composite Index increased 14.29 points, or 0.22 percent, to 6,605.80, notching record close.
Bank of America reported third-quarter results that beat Wall Street expectations despite a slowdown in its fixed-income trading business.
Meanwhile, shares of Wells Fargo plunged nearly three percent after the bank reported third quarter revenue that missed expectations on Friday.
The banking giant reported quarterly revenue of 21.9 billion U.S. dollars, down two percent on a year-over-year basis.
On the economic front, the Labor Department said on Friday its Consumer Price Index for All Urban Consumers increased 0.5 percent in September on a seasonally adjusted basis. Over the last 12 months, the all items index rose 2.2 percent.
The consumer sentiment index, a survey of consumers by the University of Michigan, jumped to 101.1 in October, far exceeding economists' expectation of 95.
U.S. retail sales were lower than expected in September but recovered from the prior month's 0.2 percent slide.
The Commerce Department said on Friday the advance estimates of U.S. retail and food services sales for September 2017, adjusted for seasonal variation and holiday and trading-day differences but not for price changes, were 483.9 billion U.S. dollars, an increase of 1.6 percent from the previous month, and 4.4 percent above September 2016.
The Dow Jones Industrial Average added 30.71 points, or 0.13 percent, to 22,871.72. The S&P 500 was up 2.24 points, or 0.09 percent, to 2,553.17. The Nasdaq Composite Index increased 14.29 points, or 0.22 percent, to 6,605.80, notching record close.
Bank of America reported third-quarter results that beat Wall Street expectations despite a slowdown in its fixed-income trading business.
Meanwhile, shares of Wells Fargo plunged nearly three percent after the bank reported third quarter revenue that missed expectations on Friday.
The banking giant reported quarterly revenue of 21.9 billion U.S. dollars, down two percent on a year-over-year basis.
On the economic front, the Labor Department said on Friday its Consumer Price Index for All Urban Consumers increased 0.5 percent in September on a seasonally adjusted basis. Over the last 12 months, the all items index rose 2.2 percent.
The consumer sentiment index, a survey of consumers by the University of Michigan, jumped to 101.1 in October, far exceeding economists' expectation of 95.
U.S. retail sales were lower than expected in September but recovered from the prior month's 0.2 percent slide.
The Commerce Department said on Friday the advance estimates of U.S. retail and food services sales for September 2017, adjusted for seasonal variation and holiday and trading-day differences but not for price changes, were 483.9 billion U.S. dollars, an increase of 1.6 percent from the previous month, and 4.4 percent above September 2016.
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