


Wall Street rose sharply Friday, keeping November on track to be one of its best months of the year, as companies continued to turn in better profits for the summer than expected.
The S&P 500 leaped 1.6% amid a widespread rally. The Dow Jones industrial average gained 391 points, or 1.2%, and the Nasdaq composite was 2% higher.
This earnings reporting season is turning out much better than analysts expected, and it’s likely to show the first growth in earnings per share for S&P 500 companies in a year, according to FactSet.
Hologic jumped 7.3% for the biggest gain in the S&P 500 after the maker of diagnostics and other products focused on women’s health reported better profit for the latest quarter than expected.
Illumina tumbled 8% after the maker of DNA-sequencing and other technology products cut its financial forecasts for the full year and said “the environment remains challenging.”
All told, the S&P 500 rose 67.89 points to 4,415.24. The Dow gained 391.16 to 34,283.10, and the Nasdaq jumped 276.66 to 13,798.11.
Big Tech stocks were the strongest forces pushing upward on the S&P 500, including a 2.3% gain for Apple and 2.5% rise for Microsoft.
The yield on the 10-year Treasury dipped to 4.61% from 4.64% late Thursday.
In the oil market, crude prices regained some more of their sharp losses from earlier in the week. A barrel of benchmark U.S. crude for delivery in December rose $1.43 to settle at $77.17. Brent crude, the international standard, added $1.42 to $81.43 per barrel. Both still lost close to 4% for the week on worries about supplies outstripping demand.
Gold for December delivery fell $32.10 to $1,937.70 per ounce. Silver for December delivery fell 63 cents to $22.28 per ounce, and December copper fell 5 cents to $3.59 per pound.
Wheat for December fell 5.5 cents at $5.7525 a bushel; December corn was off 4 cents at $4.64 a bushel, December oats rose 13.75 cents at $3.4675 a bushel; while November soybeans was up 5.75 cents at $13.335 a bushel.
— Associated Press