Source: Sharecast
The Dow and S&P 500, which briefly dipped into negative territory by mid-afternoon before rallying into the close, finished just 0.1% and 0.3% higher, respectively. However, the Nasdaq gained 0.6% on the back of decent gains from heavyweights Apple and Amazon.
Stocks were partially recovering after slipping from record highs the previous session after Federal Reserve chairman Jerome Powell hinted that the central bank may not be looking to cut interest rates again at its December meeting.
In the latest turn of events, the president of the Dallas Fed said the Fed was wrong to cut interest rates this week, saying that risks to the labour market weren't great enough to deter policymakers from their ongoing battle against inflation. “I would have preferred to hold interest rates steady,” said Lorie Logan at a conference on Friday.
In an email on Friday, analysts at Capital Economics said signs of stabilisation in the jobs market will prompt the Fed keep rates unchanged at its next meeting.
"The Fed will lean heavily on discretion in setting monetary policy, but there hasn’t been anything to justify changing its assessment or forecast for the labor market. The Fed needs to remain diligent on inflation as that remains the furthest from its mandate and not all of the deviation can be attributed to tariffs," the research firm said.
Market movers
Tech earnings were in focus on Friday after Apple posted stronger-than-expected fourth-quarter earnings the previous evening and issued a bullish forecast for its December quarter, as services and Mac sales offset softer-than-expected iPhone revenue.
Meanwhile, shares in online retail giant Amazon rallied after it posted third-quarter earnings that came in ahead of expectations on the back of a sharp acceleration in cloud revenue.
In terms of Friday's earnings, Exxon Mobil finished lower after some mixed third-quarter results, with profits falling less than expected but revenues falling more than expected on the back of a lower oil price.
Sector peer Chevron headed the other way after posting better-than-expected third-quarter profits, as a surge in production offset weaker oil prices. The oil giant pumped a record 4.1m barrels a day, a 21% increase compared with the same period last year.
Shares in Warner Bros Discovery were rising strongly on the back of reports that streaming giant Netflix could be lining up a potential bid for its studio and streaming arm. Netflix, meanwhile, traded higher after the company announced a 10-for-1 stock split.
Lastly, Colgate-Palmolive lowered its full-year sales outlook, though shares inched higher after third-quarter adjusted earnings per share came in slightly ahead of analysts' expectations.
Dow Jones - Risers
Chevron Corp. (CVX) $158.96 2.74%
Amgen Inc. (AMGN) $298.43 2.20%
Verizon Communications Inc. (VZ) $39.78 2.00%
Salesforce.Com Inc. (CRM) $260.95 1.47%
Walt Disney Co. (DIS) $112.96 0.70%
JP Morgan Chase & Co. (JPM) $312.30 0.54%
Procter & Gamble Co. (PG) $150.97 0.53%
American Express Co. (AXP) $361.76 0.52%
Boeing Co. (BA) $201.15 0.47%
Cisco Systems Inc. (CSCO) $73.11 0.27%
Dow Jones - Fallers
Microsoft Corp. (MSFT) $517.81 -1.51%
McDonald's Corp. (MCD) $298.89 -1.32%
Visa Inc. (V) $342.40 -1.24%
Walmart Inc. (WMT) $101.51 -1.03%
Caterpillar Inc. (CAT) $580.30 -1.01%
Unitedhealth Group Inc. (UNH) $341.15 -0.93%
Travelers Company Inc. (TRV) $268.92 -0.88%
International Business Machines Corporation (CDI) (IBM) $309.21 -0.85%
Nike Inc. (NKE) $64.49 -0.48%
Intel Corp. (INTC) $39.99 -0.42%
S&P 500 - Risers
Brighthouse Financial, Inc. (BHF) $57.07 24.91%
Illumina Inc. (ILMN) $123.54 24.78%
Dxc Technology Company (DXC) $14.06 9.74%
Amazon.Com Inc. (AMZN) $244.22 9.58%
Western Digital Corp. (WDC) $150.21 8.75%
Church Dwight Co Inc. (CHD) $87.73 7.20%
Keysight Technologies Inc. (KEYS) $183.95 4.33%
MGM Resorts International (MGM) $32.01 4.26%
Aon plc (AON) $341.43 3.81%
Nektar Therapeutics (NKTR) $64.89 3.39%
S&P 500 - Fallers
Advance Auto Parts (AAP) $46.65 -7.04%
Motorola Solutions Inc (MSI) $406.43 -5.85%
Gallagher Arthur J (AJG) $250.14 -4.79%
Seagate Technology Plc (STX) $255.88 -4.64%
AbbVie Inc (ABBV) $217.96 -4.45%
Baxter International Inc. (BAX) $18.48 -3.60%
Stryker Corp. (SYK) $357.84 -3.45%
National Oilwell Varco Inc. (NOV) $14.61 -3.44%
eBay Inc. (EBAY) $81.31 -2.89%
Kroger Co. (KR) $63.58 -2.75%
Nasdaq 100 - Risers
Illumina Inc. (ILMN) $123.54 24.78%
Amazon.Com Inc. (AMZN) $244.22 9.58%
Western Digital Corp. (WDC) $150.21 8.75%
Tesla Inc (TSLA) $456.56 3.74%
Biomarin Pharmaceutical Inc. (BMRN) $53.57 3.20%
Biogen Inc (BIIB) $154.39 3.11%
Workday, Inc. (WDAY) $239.92 3.03%
Netflix Inc. (NFLX) $1,118.86 2.74%
American Airlines Group (AAL) $13.13 2.74%
Synopsys Inc. (SNPS) $453.82 2.46%
Nasdaq 100 - Fallers
Sirius XM Holdings Inc (SIRI) $21.69 -6.47%
Seagate Technology Plc (STX) $255.88 -4.64%
Qvc Group Inc Series A (QVCGA) $11.31 -4.49%
eBay Inc. (EBAY) $81.31 -2.89%
Starbucks Corp. (SBUX) $80.87 -2.74%
Meta Platforms Inc. (META) $648.35 -2.72%
Lam Research Corp. (LRCX) $157.46 -2.20%
Check Point Software Technologies Ltd. (CHKP) $195.64 -1.90%
Skyworks Solutions Inc. (SWKS) $77.72 -1.82%
Broadcom Inc. (AVGO) $369.63 -1.82%
