Why it matters
- The S&P 500 rose 46.18 points, or 0.59%, to 7,811.54, its first gain since Tuesday's record close. It ended the week up 1.15%, while the Nasdaq gained 0.64% and the Dow 0.93%.
- Humana jumped 11.6% on Medicare Advantage quality-rating data, the AP reported, while wireless carriers slid after a SpaceX spectrum deal. Delta Air Lines finished almost flat after its earnings.
- The University of Michigan's preliminary October sentiment index fell to 46.3 from 48.1, and year-ahead inflation expectations rose to 4.7%. The 10-year Treasury yield rose to 5.24%.
Session recap: what happened in this region's trading day, with sources.
U.S. stocks rose on Friday, Oct. 9, and the major indexes finished the week higher. The S&P 500 gained 46.18 points, or 0.59%, to 7,811.54, the Nasdaq Composite rose 172.83 points, or 0.64%, to 27,366.17, and the Dow Jones Industrial Average climbed 423.31 points, or 0.83%, to 51,654.95, according to the Associated Press and Yahoo Finance data.
| Index | Friday close | Daily change | Week |
|---|---|---|---|
| S&P 500 | 7,811.54 | +46.18 (+0.59%) | +1.15% |
| Nasdaq Composite | 27,366.17 | +172.83 (+0.64%) | +0.64% |
| Dow Jones Industrial Average | 51,654.95 | +423.31 (+0.83%) | +0.93% |
Source: Associated Press; Yahoo Finance chart data. Weekly changes are from the Oct. 2 close.
It was the S&P 500's first gain since its all-time high on Tuesday, the AP said. Thursday's losses are in our Americas Thursday recap.
Main movers
- Humana jumped 11.6% after reporting encouraging data on its Medicare Advantage quality ratings, the AP reported. The Motley Fool, writing on Yahoo Finance, said the stock was also helped by an analyst upgrade.
- Crown Castle rose 15.6% and American Tower 9.3% after SpaceX announced a spectrum purchase that could help it become a U.S. mobile carrier, the AP said.
- Wireless carriers fell on competition worries. T-Mobile US dropped 13.3%, AT&T 10.8% and Verizon 10.1%, Yahoo Finance data showed.
- Delta Air Lines erased an early loss and finished up less than 0.1%, at $82.17, after its summer profit and revenue slightly missed expectations, the AP reported. Chief Executive Ed Bastian said the airline must absorb a $6 billion rise in fuel costs this year, according to the AP.
- Apple fell 1.1%, Yahoo Finance data showed, after reports that it cut component orders for its next iPhones, the Motley Fool said.
What did the Michigan consumer sentiment survey show?
Consumers grew gloomier. The University of Michigan's preliminary October index of consumer sentiment fell to 46.3 from 48.1 in September. Year-ahead inflation expectations rose to 4.7% from 4.6%, and long-run expectations rose to 3.5% from 3.4%, the university said. The final October reading is due Oct. 23.
| University of Michigan measure | Oct. (prelim.) | Sept. (final) |
|---|---|---|
| Index of consumer sentiment | 46.3 | 48.1 |
| Current economic conditions | 44.7 | 50.9 |
| Consumer expectations | 47.3 | 46.3 |
| Year-ahead inflation expectations | 4.7% | 4.6% |
| Long-run inflation expectations | 3.5% | 3.4% |
Where did oil settle as Hurricane Isaias neared land?
Slightly higher. Brent crude settled up 44 cents, or 0.42%, at $104.72 a barrel, and U.S. West Texas Intermediate rose 36 cents, or 0.39%, to $91.85, Reuters reported. From the Oct. 2 settlements in Yahoo Finance data, Brent gained about 2.4% for the week and WTI about 0.8%.
Oil companies shut more than 70% of crude production in U.S. waters on Friday ahead of the storm, Reuters said. Isaias, a Category 3 hurricane with 115 mph winds, was about 90 miles south of Pensacola, Florida, at 4 p.m. CDT and was expected to make landfall on the western Florida Panhandle this evening, the National Hurricane Center said.
Prices were briefly lower earlier in the session after President Donald Trump said talks with Iran had been "productive," Reuters reported.
What happened to Treasury yields?
They edged up. The 10-year yield rose to 5.24% from 5.22%, and the 2-year yield to 4.80% from 4.75%, while the 30-year held at 5.60%, according to the Treasury Department. For the week, the 10-year yield fell from 5.28%.
The dollar, gold and bitcoin
The U.S. dollar index was near 102.22 late Friday, little changed. Gold futures traded near $4,221 an ounce, up about 1.5%, and bitcoin was near $82,400, Yahoo Finance data showed.
What's next for markets?
Monday, Oct. 12, is Columbus Day. The NYSE does not list it as a market holiday, while SIFMA lists it among its U.S. bond market holiday recommendations. Citigroup, JPMorgan Chase and Wells Fargo report earnings on Tuesday, the AP said, and September consumer prices are due Wednesday, Oct. 14. This morning's day-ahead preview and the Europe Friday recap cover earlier sessions; the markets page tracks the latest numbers.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Associated Press via CP24, Wall Street finishes its record-setting week with gains
- Reuters via Yahoo Finance, Oil prices settle higher as more production shut ahead of hurricane
- The Motley Fool via Yahoo Finance, Stock Market Midday, Oct. 9
- University of Michigan, Surveys of Consumers
- National Hurricane Center, Hurricane Isaias Advisory 13
- U.S. Treasury, Daily Treasury par yield curve rates
- NYSE, Holidays and trading hours
- SIFMA, Holiday schedule
- Yahoo Finance, chart data for the S&P 500, Nasdaq Composite, Dow, Brent, WTI, gold futures, U.S. dollar index, bitcoin, Humana, Delta, T-Mobile US, AT&T, Verizon and Apple