Wall Street closed sharply higher, capping another strong week with gains led by Apple and other companies that made even bigger profits during the summer than expected.
The S&P 500 rose 2.5% Friday and marked its first back-to-back weekly gain since August. Stocks have revived recently partly on hopes for a dialing down later this year of the big interest-rate hikes that have been shaking the market.
More recently, many big U.S. companies have been reporting stronger earnings than expected, though the bag remains decidedly mixed. Apple, Intel, and Gilead Sciences jumped following strong reports, which helped offset a discouraging forecast from Amazon.
The S&P 500 rose 93.76 points, or 2.5%, to 3,901.06.
The Dow Jones Industrial Average rose 828.52 points, or 2.6%, to 32,861.80
The Nasdaq rose 309.78 points, or 2.9%, to 11,102.45.
The Russell 2000 index of smaller companies rose 40.60 points, or 2.2%, to 1,846.92.
For the week:
The S&P 500 is up 148.31 points, or 4%.
The Dow is up 1,179.24 points, or 5.7%.
The Nasdaq is up 242.74 points, or 2.2%.
The Russell 2000 is up 104.68 points, or 6%.
For the year:
The S&P 500 is down 865.12 points, or 18.2%.
The Dow is down 3,476.50 points, or 10%.
The Nasdaq is down 4,542.52 points, or 29%.
The Russell 2000 is down 398.39 points, or 17.7%.