Stocks add another week of gains, as earnings kick off


The S&P 500 also registered its fifth weekly gain in a row at 0.2%, ending Friday 0.1% higher at 2,553. The Nasdaq composite rose 16.30 points, or 0.2%, to 6,603.55.

The Nasdaq Composite reached a new record on Friday as USA stocks closed slightly higher. Technology was lower with the S&P 500 technology sector down 0.25%.

The Russell 2000 is down 3.29 points, or 0.2 percent.

Analysts at Goldman raised their price target on Netflix shares to $235 from $200 a share, noting: "We believe consensus subscriber estimates for Netflix ahead of Monday's earnings remain too low, particularly for the quarter, 4Q, and beyond".

The S&P's 500 index gained 4.60 points, or 0.2%, to 2,555.24.

Shares of big banks were little changed after mixed reports from Bank of America and Wells Fargo.

JPMorgan Chase and Citigroup also posted stronger-than-expected quarterly results on Thursday.

Bank of America, the second-biggest United States bank by assets, rose 1.10 per cent after the lender's profit topped estimates due to higher interest rates and a drop in costs.

Earnings are expected to grow by 4 percent for the third quarter, according to S&P Capital IQ.

The market got a boost earlier in the day after data showed retail sales surged by the most in 2-1/2 years in September, while consumer prices recorded their biggest increase in eight months as Hurricanes Harvey and Irma boosted demand.

In the broad market, real estate led gains and financial stocks led losses.

Winners and Losers: After President Donald Trump announced the government would end subsidies to insurers under the Affordable Care Act, health care stocks took a hit including Tenet Healthcare (down 5.10 percent).