How major U.S. stock indexes fared on Friday

14 October, 2017, 00:09 | Author: Regina Silva
  • How major U.S. stock indexes fared on Friday

The major index futures are now pointing to a higher open for the markets, with the Dow futures up by 37 points.

Using hedge fund analytics tool Kensho, CNBC found the S&P 500 posts a gain of 2.3 percent on average 30 days after third-quarter earnings season begins, trading positive 79 percent of the time.

The CBOE volatility index.VIX remains at historically depressed levels, closing at 9.61 on Friday.

The S&P index inched up 0.2 per cent and hit an all-time mid-day high.

The market got a boost earlier in the day after data showed retail sales surged by the most in 2-1/2 years in September, while consumer prices recorded their biggest increase in eight months as Hurricanes Harvey and Irma boosted demand. Core prices had been expected to rise by 0.2 percent.

Shares of big banks were little changed after mixed reports from Bank of America and Wells Fargo. Economists had expected prices to increase by 0.6 percent.

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Louis Fed President James Bullard told Business Insider that there was "no hurry to raise rates" with inflation below target. On Thursday, economic data showed that producer prices increased 0.4% last month on a year-over-year basis.


Shortly after the start of trading, the University of MI is scheduled to release its preliminary report on consumer sentiment in the month of October.

Also limiting the day's gains, the healthcare sector.SPXHC was down 0.3 percent as health insurers and hospital operators tumbled on news that President Donald Trump scrapped billions of dollars in Obamacare subsidies to private insurers for low-income Americans.

Corporate earnings for the S&P 500 have grown 6.1 percent, 15.5 percent and 10.8 percent in the fourth quarter of previous year and the first and second quarters of 2017, respectively.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday.

Telecom stocks showed a significant move to the downside over the course of the session, dragging the NYSE Arca Telecom Index down by 2.7 percent. While the German DAX Index is up by 0.1 percent, the French CAC 40 Index is down by 0.1 percent and the U.K.'s FTSE 100 Index is down by 0.2 percent. Meanwhile, after climbing $7.60 to $1,296.50 an ounce in the previous session, gold futures are rising $6.20 to $1,302.70 an ounce.

USA stocks closed lower on Thursday as Wall Street digested earnings from some of the top financial companies.

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