Wall Street posts weekly gains with earnings, inflation data on tap
SPY•All three major U.S. stock indexes rose Friday and posted weekly gains, with the Dow up 0.83%, the S&P 500 up 0.59% and the Nasdaq up 0.64%. Investors turned to next week’s earnings season and expected inflation data.
1. Indexes finish higher
Wall Street ended higher Friday as investors looked ahead to third-quarter earnings reports and inflation data expected next week. The Dow rose 423.31 points to 51,654.95, the S&P 500 gained 46.15 points to 7,811.51 and the Nasdaq added 172.83 points to 27,366.17. The Russell 2000 ended below its close from the previous Friday.
2. Earnings and inflation ahead
Major U.S. banks, including Wells Fargo, Goldman Sachs, Citigroup, JPMorgan Chase, Bank of America and Morgan Stanley, are scheduled to report results next week. Analysts estimate aggregate S&P 500 earnings growth of 30.6% for the July-September period, with energy and technology growth estimated at 123% and 66.5%, respectively. Inflation data could provide insight into the Federal Reserve’s next policy decision.
3. Company shares move
SpaceX agreed to acquire a nationwide low-band spectrum portfolio, and shares of T-Mobile, AT&T and Verizon fell between 8.8% and 13.3%. Humana rose 11.6% after government data showed 95% of its members were in Medicare Advantage plans rated four stars or higher for 2027. Apple fell 1.1% after a report that it had told some suppliers to cut production of components for its iPhone 18 Pro models.
