Stocks Ended Mixed Friday, Gained for the Week

U.S. stocks ended mixed on Friday and posted gains for the week, as investors eyed a slate of upbeat announcements from major companies including Boeing and Pfizer and a much better than expected print on spending by the U.S. consumer. The Dow Jones Industrial Average rose 112.11 points, or 0.39%, to 28,606.31, and posted a weekly gain of just under 0.1%. The S&P 500 added 0.47 point, or 0.01%, to 3,483.81 and booked a weekly gain of 0.2%. The Nasdaq Composite declined 42.31 points, or 0.36%, to 11,671.56, but booked a weekly gain of 0.8%.

Oil futures slipped a bit on Friday as rising COVID-19 cases in the U.S. and Europe heightened worries about demand for crude, but prices finished higher for the week, partly due to assurances from OPEC+ that it remains committed to production cuts. West Texas Intermediate crude for November delivery fell 8 cents, or 0.2%, to $40.88 a barrel and posted a weekly rise of 0.7%.. December Brent crude lost 23 cents, or 0.5%, to $42.93 a barrel and saw a 0.2% weekly climb.

The University of Michigan’s closely watched consumer sentiment index showed a modest increase in October from September, albeit while holding well below pre-pandemic levels. The headline index ticked up to 81.2 in October, according to the preliminary monthly reading, after rising to 80.4 in September.

Europe’s top aviation regulations agency EASA suggested that the Boeing (BA)’s 737 Max will be safe to fly again in the region before the end of the calendar year, according to a Bloomberg interview with the director of the agency.

Pfizer (PFE) said in an update Friday that it expected to reach a key milestone in its COVID-19 vaccine candidate testing in the third week of November, after which it planned to apply for Emergency Authorization Use through the U.S. Food and Drug Administration.

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