Stocks Rally Friday, but End Lower for Week

U.S. stocks rallied on Friday on upbeat economic data, but the sharp gains weren’t enough to offset losses
from earlier in the week. The Dow Jones Industrial Average jumped 167.35 points, or 0.99%, to 17,113.15, but rang up a weekly loss of 1%. The S&P 500 closed 16.86 points, or 0.86%, higher at 1,982.85, ending the week 1.4% lower. The Nasdaq Composite gained 45.45 points, or 1.02%, to 4,512.19 but was 1.5% lower over the week.

U.S. consumer sentiment rose to a 14-month high in September as American’s outlook of the overall economy improved, a survey showed Friday. The final reading of the consumer sentiment index in September edged up to 84.6, the same as the preliminary reading, from 82.5 in August, according to the monthly Thomson Reuters/University of Michigan survey of consumers.

The European Aviation Safety Agency (EASA) says electronic devices such as mobile phones can be left switched on during flights. EASA says that electronic devices do not pose a safety risk.

The cancellation culls 15 long-range 787 Dreamliners and 18 single-aisle 737 jetliners from Boeing’s backlog. Air Berlin said in a statement Friday that its cancellation doesn’t require it to make any compensation payments to the plane maker.

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