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US Indexes Close Higher Friday and for the Week

The Dow Jones Industrial Average closed at 26,958.06 on Friday with a gain of 152.53 points or 0.57%. The S&P 500 closed at 3,022.55 for a gain of 12.26 points or 0.41%. The Nasdaq Composite closed at 8,243.12 for a gain of 57.32 points or 0.70%. The VIX Volatility Index was lower at 12.65 for a loss of 1.06 points or -7.73%.

For the week, the Nasdaq gained approximately 1.3%, the S&P 500 gained 0.75% and the Dow Jones gained 0.62%. For the year, the Nasdaq is up 24%, the S&P 500 has a gain of 20% and the Dow Jones has a gain of 16%.

Friday's market movers

U.S. indexes ended higher Friday with gains for the Oct. 25 week. A stable week of corporate earnings along with news that the U.S. and China were making progress on a phase one agreement helped support the gains. Top earnings results for Friday included the following:

  • Verizon (NYSE:VZ): Revenue of $32.9 billion increased 0.9% year over and beat estimates by $160 million. Third-quarter GAAP earnings per share of $1.25 beat estimates by 2 cents and non-GAAP earnings of $1.25 per share beat estimates by 1 cent.
  • Charter Communications (NASDAQ:CHTR): Revenue of $11.45 billion increased 505.8% year over year and beat estimates by $30 million. Third-quarter GAAP earnings of $1.74 per share beat estimates by 8 cents.

Next week, investors will continue watching China negotiations, with the country requesting the removal of some tariffs in exchange for agriculture purchases. The Federal Open Market Committee will also meet next week for its October meeting, with another possible interest rate decrease in question.

On the economic calendar Friday:

  • The Michigan Consumer Sentiment Index increased to 95.5 from 93.2.
  • The Baker Hughes North American oil rig count decreased to 977 from 994.
  • The Treasury's Monthly Budget Statement showed a surplus of $83 billion.

In the S&P 500, the technology and materials sectors led gains. In the S&P 100, the following stocks led gains:

  • Intel (NASDAQ:INTC) 8.10%
  • Charter Communications (NASDAQ:CHTR) 6.23%
  • Caterpillar (NYSE:CAT) 4.39%
  • General Motors (NYSE:GM) 3.35%

Small-cap stocks

In small caps, the Russell 2000 closed at 1,558.71 for a gain of 8.53 points or 0.55%. The S&P 600 closed at 968.12 for a gain of 6.57 points or 0.68%. The Dow Jones U.S. Small-Cap Growth Index closed at 9,904.98 for a gain of 72.74 points or 0.74%. The Dow Jones U.S. Small-Cap Value Index closed at 9,619.99 for a gain of 42.85 points or 0.45%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,959.22 for a gain of 9.62 points or 0.49%; the S&P 100 at 1,340.72 for a gain of 7.50 points or 0.56%; the Nasdaq 100 at 8,029.22 for a gain of 62.50 points or 0.78%; the Russell 3000 at 1,770.32 for a gain of 7.70 points or 0.44%; the Russell 1000 at 1,669.40 for a gain of 7.13 points or 0.43%; the Wilshire 5000 at 30,914.36 for a gain of 134.60 points or 0.44%; and the Dow Jones U.S. Select Dividend Index at 734.67 for a gain of 1.78 points or 0.24%.

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This article first appeared on GuruFocus.