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U.S. equity benchmarks finished the week on a high note on Friday, amid economic data including weaker-than-expected inflation but strong retail sales numbers. The Dow Jones Industrial Average rose 0.1% to 22,871.72, just shy of an all-time high, and ended 0.4% on the week, making it the fifth rise in a row. The S&P 500 ended 0.1% higher at 2,553.17, registering a 0.2% weekly gain–its fifth a row. The Nasdaq Composite index rose 0.2% to a record close at 6,605.80, and 0.2% on the week for a third weekly gain in a row. In individual stocks, Bank of America and Wells Fargo & Co. reported third-quarter earnings today, with B. of A. registering some gains and Shares of Wells Fargo declined on its weaker-than-expected numbers.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. equity benchmarks finished the week on a high note on Friday, amid economic data including weaker-than-expected inflation but strong retail sales numbers. The Dow Jones Industrial Average rose 0.1% to 22,871, and 0.4% on the week, making it the fifth rise in a row. The S&P 500 closed 0.1% higher at 2,553, registering a 0.2% weekly gain–its fifth a row. The Nasdaq Composite index rose 0.2% to about 6,605, and 0.2% on the week for a third weekly gain in a row. In individual stocks, Bank of America and Wells Fargo & Co. reported third-quarter earnings today, with B. of A. registering some gains and Shares of Wells Fargo declined on its weaker-than-expected numbers.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of PG&E Corp. fell more than 10% in the late session Friday after the company acknowledged that it may face some liability stemming from the California wildfires. PG&E “has about $800 million in liability insurance for potential losses that may result from these fires. If the amount of insurance is insufficient to cover (PG&E’s) liability or if insurance is otherwise unavailable, PG&E Corporation’s and the Utility’s financial condition or results of operations could be materially affected,” the company said in a filing Friday. Possibly downed power lines are among the causes under investigation for the deadly fires in northern California counties.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Apple Inc. may not ramp up production volume on its flagship iPhone X until December, according to a Friday research note from Cascend Securities. Apple shares are up less than 1% to $156.89 in late-session trading. Though iPhone X sales are set to kick off with pre-orders on Oct. 27 and availability Nov. 3, the manufacturing and supply chain partners Apple uses are privately saying that volumes will not be ready in November. Cascend analyst Eric Ross told MarketWatch that normally device manufacturers build up inventory and ensure it’s in the hands of retail outlets and carriers so gadgets are available to consumers on launch day. “But they don’t seem to be doing it this year,” he said. As for the iPhone 8, consumer interest is “OK but not tremendous” and customers are not buying as much as Cascend expected, the note says. While iPhone 8 supply is good, the discounts have not yet been enough give wireless carriers incentives to attract more customers to two-year contracts. Apple stock is up 35% this year, with the S&P 500 index up 13.9%. The Dow Jones Industrial Average , of which Apple is a component, is up 15.8% this year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Oil prices finished at their highest level in two weeks on Friday, scoring a gain of roughly 4.4% for the week as uncertainty surrounds Iran’s nuclear deal and amid strong Chinese crude imports. November WTI crude rose 85 cents, or 1.7%, to settle at $51.45 a barrel on the New York Mercantile Exchange-the highest since Sept. 29, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Gold prices settled above $1,300 an ounce on Friday, lifting their weekly gain to 2.3%. Prices got a boost as a reading on U.S. inflation came in cooler than expected, raising uncertainty about the pace of U.S. interest-rate hikes by the Federal Reserve. December gold climbed by $8.10, or 0.6%, to settle at $1,304.60 an ounce. That was the highest finish since Sept. 25, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 5 to 743 this week after posting a fall of 2 rigs last week. The total active U.S. rig count, which includes oil and natural-gas rigs, also declined by 8 to 928, according to Baker Hughes. November West Texas Intermediate crude was up 44 cents, or 0.9%, from Thursday, at $51.04 a barrel as U.S. President Donald Trump announces a new strategy on Iran. Prices traded at $51.45 before the rig data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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President Donald Trump should reappoint Federal Reserve Chairwoman Janet Yellen to a second four-year term, the outgoing No.2 at the central bank said on Friday. “Janet is a safe pair of hands and very good at explaining what she is doing and persuading people of what she’s doing and I think that is critically important,” Federal Reserve Vice Chairman Stanley Fischer said, in an interview on CNBC. Fischer announced last month that he was retiring Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News