The weekly rise came amid strong support from financial sector stocks after banks announced strong quarterly results, while the latest inflation data supported expectations of a cut in interest rates in November.
Major financial companies began the earnings season, and JPMorgan Chase shares rose 4.4 percent after announcing higher-than-expected profits in the third quarter and raising annual interest income expectations.
Other stocks in the sector also rose broadly, strengthening the “Indicator” index.Standard & Poor’s 500“.
Stock movements
During the week, the S&P 500 rose 1.1 percent, whileDow Jones“by 1.2 percent, and progress”Nasdaq“by 1.1 percent.
The three indices recorded gains for the fifth week in a row.
During Friday’s trading, the Dow Jones Industrial Average rose by 409.74 points, or 0.97 percent, to 42,863.86 points, and the Standard & Poor’s 500 increased by 34.98 points, or 0.61 percent, to 5,815.03 points.
The Nasdaq Composite Index also rose by 60.89 points, or 0.33 percent, to 18,342.94 points.
