S&P 500 and Dow Closed at Record High

U.S. stocks rallied on Friday, sending the S&P 500 and Dow Jones Industrial Average into record territory, after a surprise stimulus plan from the Bank of Japan was announced. The Dow Jones Industrial rose 195.10 points, or 1.13%, to 17,390.52. The S&P 500 gained 23.40 points, or 1.17%, to 2,018.05. The Nasdaq Composite rallied 64.60 points, or 1.41%, to 4,630.74.

An unexpected everything-but-the-kitchen-sink stimulus plan by the Bank of Japan on Friday triggered some sizeable global market moves, across assets from currencies to stocks.

Consumer spending unexpectedly dropped 0.2 percent in September, weaker than any economist projected in a Bloomberg survey, after rising 0.5 percent in August, according to Commerce Department data issued today in Washington. The report also showed incomes rose at a slower pace last month.

Gold took a hard fall on Friday, at one point trading at levels not seen since 2010, as the dollar surged. Gold for December delivery slumped $27, or 2.3%, to settle at $1,171.60 an ounce, closing out the week 5.3% lower.