Stock Market Watch

Stocks End Higher for a Second Straight Trading Session

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Stocks ended higher for a second successive trading session on Friday amid hopes that lawmakers will reach a deal on raising the debt ceiling. Investors’ sentiment was lifted after AP reported that House Republicans were ready to offer a new deal that would increase the debt ceiling and also end the government shutdown in exchange for spending cuts.

The Dow Jones ended the day 0.73% higher at 15,237.11, the S&P 500 ended the day 0.63% higher at 1,703.20, and the Nasdaq ended the day 0.83% higher at 3,791.87.

For the week, the Dow Jones rose 1.09%, the S&P 500 rose 0.75%, and the Nasdaq fell 0.42%. All three major indexes are in green for the month of October so far.

All sectors in the S&P 500 ended in green on Friday. Technology sector led the gains in the S&P 500, ending the day 0.98% higher. Energy sector ended the day 0.82% higher. Industrials ended the day 0.75% higher.

Among the major movers on Friday included SolarCity Corp. (NASDAQ: SCTY), which ended the day 23.09% higher at $47.18, Spirit Airlines Incorporated (NASDAQ: SAVE), which ended the day 14.83% higher at $39.11, and The Gap Inc. (NYSE: GPS), which ended the day 6.71% lower at $36.83.

On the economic front, the preliminary reading on Thomson Reuters/University of Michigan’s consumer sentiment index for October showed that consumer sentiment fell to the lowest level in nine months.

European markets ended mostly higher on Friday, with the FTSE 100 Index in London closing 0.88% higher, and the CAC 40 Index in Paris closing 0.04% higher. Asian markets also ended mostly higher overnight, with the Nikkei 225 Index in Japan closing 1.48% higher, and the Hang Seng Index in Hong Kong closing 1.16% higher.








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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