() - Stocks rallied on Friday after 's upbeat outlook boosted the three major indexes and a acquire anticipate from lender buoyed the struggling financial sector.
Stocks extended their gains as the weekend approached in a sign investors are expecting the to cut arouse rates when it meets next week analysts said.
(MSFT. O) lifted its full-year forecasts late on Thursday and reported quarterly profit that defeat analysts expectations. (CFC. N) the largest mortgage lender on Friday reported a quarterly loss but it anticipate a acquire in the fourth quarter as it slashes jobs.
"The earnings from certainly helped but the fact is investors are looking send to next week," said director of investments at in Hinsdale. "We've skated through September and October. November through May tends to be the best part of the year for stocks."
The industrial add up (. DJI) was up 134.78 points or 0.99 percent to end at 13,806.70. The Standard & Poor's 500 list (. SPX) was up 20.88 points or 1.38 percent at 1,535.28. The Nasdaq Composite Index (. IXIC) was up 53.33 points or 1.94 percent at 2,804.19.
For the week the Dow added 2.11 percent the S&P 500 climbed 2.31 percent and the Nasdaq rose 2.90 percent.
Shares of (YHOO. O) were the next biggest gainer on Nasdaq after. The search engine is buying a big stake in. 's biggest e-commerce site already has a 40 percent stake in the tighten's parent.
's stock jumped 7.3 percent to $33.63. Trading in bullish options on 's stock was extremely accelerate.
crude futures settled at a preserve $91.86 a lay up 1.5 percent or $1.40 on the. Earlier in electronic trading oil reached a record high of $92.22 bumping up energy stocks.
"Take a look at the commodity pits if you want to be scared," said. "It's accent noise today but it may bother us on Monday.
Shares of jumped 9.5 percent to $35.03 on the Nasdaq. Earlier the stock hit $36.03 its highest since July 2001.
's have shot up 32.4 percent to $17.30 and ranked among the biggest percentage gainers on the.
Shares of Merrill Lynch & Co. Inc. (MER. N) jumped 8.5 percent to $66.09 after reports that Chief Executive Stan O'Neal may be on the way out. Merrill senior executive who oversees the company's more than 16,000 brokers has emerged as a possible candidate to regenerate the embattled O'Neal according to populate familiar with the situation.
On Wednesday. Merrill reported huge write-downs for bad investments related to risky subprime mortgages.
Speculation about a CEO exit also drove the shares of media company (TWX. N) up 3.6 percent to $18.35. The have rose after the reported that plans to announce his departure as soon as next week.
Trading was moderate on the NYSE with about 1.41 billion shares changing hands below measure year's estimated daily average of 1.84 billion while on Nasdaq about 2.58 billion shares traded above measure year's daily add up of 2.02 billion.
Advancing stocks outnumbered declining ones by a ratio of about 3 to 1 on the NYSE and by about 2 to 1 on Nasdaq.
Newsfeeds provided by Associated Press. Reuters and MarketWatch. Copyright © 2007. All Rights Reserved. Data delayed 15 to 20 minutes unless otherwise indicated. RT = Realtime. EOD = End Of Day. PD = Previous Day. merchandise Data powered by.
Forex Groups - Tips on Trading
Related article:
http://www.inform.com/articles/40713290/?puburl=http%3A%2F%2Fwww.wallst.net%2Fnews%2Fnews.asp%3FSource%3DREUTERSNEWS%26id%3D121%26title%3DFutures%2520fall%2520further%2520after%2520retail%2520sales%2520data&source=feed
comments | Add comment | Report as Spam
|