Stocks Ended Strong Week in Positive Mood

U.S. stocks ended higher on Friday while the S&P 500 posted its biggest weekly gains since December 2014. The Dow Jones Industrial Average climbed 91.06 points, or 0.51%, to 17,823.81 and recorded a 3.3% weekly gain, its largest in six weeks. The S&P 500 gained 7.93 points, or 0.38%, to 2,089.17 and booked a 3.3% gain over the week. The Nasdaq Composite was up 31.28 points, or 0.62%, to 5,104.92 and was 3.6% higher on the week.

Federal Reserve Bank of St. Louis President James Bullard said investors should prepare for uncertainty on whether the Federal Open Market Committee will raise its target interest rate at each meeting next year, as the era of signaling moves is over.

Tesla Motors is recalling its entire fleet of Model S sedans to check their front seat belts after one passenger’s seat belt became disconnected. The recall — the company’s largest ever — involves 90,000 cars worldwide.

Abercrombie & Fitch reported sales and profits that topped Wall Street’s forecasts. Overall sales were flat in the third quarter, a huge improvement from recent quarters. Same-store sales were even up 3% at the company’s younger-skewing Hollister chain and also increased slightly for Abercrombie & Fitch internationally.

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