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 as investors looked ahead to third-quarter earnings and inflation data. The S&P 500 gained 0.60%, the Nasdaq rose 0.64% and the Dow added 0.84%.
1. Indexes finish higher
All three major U.S. stock indexes advanced Friday, while the small-cap Russell 2000 ended below its prior Friday close. The S&P 500 gained 46.35 points to 7,811.71, the Nasdaq Composite rose 172.83 points to 27,365.00, and the Dow Jones Industrial Average added 429.90 points to 51,661.54.
2. Earnings and inflation ahead
Investors shifted their focus to next week, when third-quarter earnings season begins in earnest and inflation data is expected. Analysts estimate S&P 500 earnings grew 30.6% year over year in the July-September period, with energy and technology forecast to post growth of 123% and 66.5%, respectively. Major U.S. banks are scheduled to report results.
3. Company moves
SpaceX agreed to acquire a nationwide low-band spectrum portfolio, and T-Mobile, AT&T and Verizon shares ended sharply lower. Delta Air Lines fell after cutting its annual profit forecast, while Apple slid after a media report that it asked some suppliers to reduce components for its iPhone 18 Pro models.
