by Sinéad Carew and Lisa Pauline Mattackal
(Reuters) – The New York Stock Exchange ended up on Friday, the Dow Jones and the S&P 500 at closing records, thanks to good results from major American banks and a reassuring index on the control of inflation and continued decline in rates.
The S&P 500 gained 34.98 points, or 0.61%, to 5,815.03 points, the Nasdaq Composite rose 60.89 points, or 0.33%, to 18,342.94. The Dow Jones gained 409.74 points (0.97%), to 42,863.86.
All three indices gained more than 1% over the week, their fifth consecutive week of gains.
Banks JP Morgan and Wells Fargo gained 4.4% and 5.6% respectively after announcing stronger than expected third quarter profits.
BlackRock rose 3.6% after reporting, for the third consecutive quarter, a record level of assets under management.
The S&P sector index of banking stocks rose 4.2% to its highest since February 2022.
Tesla shares fell 8.8% after the electric vehicle manufacturer presented its robot taxi project, which limited the Nasdaq’s gains.
Investors have criticized the absence of detailed financial perspectives regarding the impact of this project on the group’s growth.
Published during the day, the US producer price index remained unchanged in September, supporting expectations of a 0.25 percentage point cut in Federal Reserve rates in November.
(Jean-Stéphane Brosse)
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