How major United States stock indexes fared on Friday

Closing Indexes Summary Oct 12

A boost in Apple and other technology stocks catapulted all three major Wall Street indexes to record highs on Friday.

Six of the 11 major S&P sectors were higher, led by a 0.7 per cent gain in the technology index, which had led much of the market's rally this year.

Higher gas prices contributed to the jump in retail sales, as sales by gasoline stations soared by 5.8 percent during the month.

The Nasdaq composite climbed 16.30 points, or 0.2 percent, to 6,603.55.

Another report showed consumer prices recorded their biggest increase in eight months as hurricanes Harvey and Irma boosted demand but underlying inflation remained muted. The Labor Department said USA producer prices rose 0.4 percent last month and 2.6 percent in the 12 months through September. Economists had expected jobless claims to dip to 251,000.

A negative reaction to earnings news from Citigroup (C) and JPMorgan (JPM) also weighed on the markets, with both financial giants moving lower despite reporting better than expected third quarter earnings. The consumer sentiment index is expected to edge down to 95.0.

US crude oil +1.7% to $51.47/bbl, lifted by strong Chinese oil import data and concern that Pres. Trump's new Iran strategy eventually could lead to renewed sanctions; the S&P energy sector (+0.5%) is moving higher in tandem with oil prices.

With the modest drops on the day, the major averages pulled back off Wednesday's record closing highs.

Corporate earnings for the S&P 500 have grown 6.1 percent, 15.5 percent and 10.8 percent in the fourth quarter of a year ago and the first and second quarters of 2017, respectively.

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The Russell 2000 index of smaller-company stocks declined 2.51 points, or 0.2 percent, to 1,502.66. Meanwhile, after climbing $7.60 to $1,296.50 an ounce in the previous session, gold futures are rising $6.20 to $1,302.70 an ounce.

US stocks finished mostly higher Friday to wrap up a subdued week, and technology companies did most of the heavy lifting. Against the euro, the dollar is valued at $1.1867 compared to yesterday's $1.1830.

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