The S&P 500 Index ($SPX) (SPY) closed up by +0.59% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.83%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.51%. December E-mini S&P futures (ESZ26) rose +0.59%, and December E-mini Nasdaq futures (NQZ26) rose +0.48%.
Stock indexes settled higher on Friday, with the Dow Jones Industrials posting a 1.5-week high. Earnings optimism is underpinning stock prices. According to data compiled by Bloomberg Intelligence, Q3 S&P 500 profits are expected to climb by +25% from a year earlier, up from a July estimate of 22%. Q3 earnings season begins next week when US money center banks report.
