U.S. stocks ended Friday higher after key earnings reports from financial heavyweights.
The S&P 500 (^GSPC) added 0.4%, while the Dow Jones Industrial Average (^DJI) increased by 0.3%. The technology-heavy Nasdaq Composite (^IXIC) was up roughly 0.7%, closing upward for sixth consecutive day, the longest streak since 2021. The Nasdaq and S&P 500 notched their biggest weekly gains in about two months.
The yield on the benchmark 10-year U.S. Treasury ticked up slightly to 3.5%. The dollar index showed little change.
Stocks pared early losses after the University of Michigan consumer sentiment survey for January rose to a nine-month high of 64.6 from 59.7 last month. The expectations index rose to 62.0 compared to 59.9 last month.
The news provided a more optimistic outlook after a downbeat tone from America’s biggest banks, who took center stage to kick off the fourth quarter’s earnings season. Their earnings showed continued resilience…
