NEW YORK, Oct. 18 (Xinhua) -- U.S. stocks ended higher on Friday, as the three major averages recorded their sixth straight positive week.
The Dow Jones Industrial Average rose 36.86 points, or 0.09 percent, to 43,275.91. The S&P 500 added 23.20 points, or 0.40 percent, to 5,864.67, recording a fresh all-time high, as well as its sixth straight week of gains, the longest streak in 2024. The Nasdaq Composite Index increased 115.94 points, or 0.63 percent, to 18,489.55.
Ten of the 11 primary S&P 500 sectors ended in green, with communication services and real estate leading the gainers by going up 0.92 percent and 0.73 percent, respectively. Meanwhile, energy bucked the trend by dropping 0.35 percent.
According to data from the U.S. Census Bureau and the Department of Housing and Urban Development on Friday, single-family housing starts rose by 2.7 percent in September from August and were up 5.5 percent compared to the same period last year.
Additionally, single-family building permits increased by 0.3 percent in September from the previous month, marking three consecutive months of growth, signaling sustained momentum in the housing market.
On the corporate front, Netflix shares surged 11 percent on Friday after surpassing Wall Street's expectations for the third-quarter earnings and revenue, driven by a 35 percent increase in ad-tier memberships over the previous quarter. Procter & Gamble also posted better-than-expected earnings, although its revenue fell short of forecasts.
So far, over 70 S&P 500 companies have reported earnings this season, with 75 percent of them exceeding expectations, according to FactSet.
"Earnings season is off to the races, and despite some mixed signals, appears to be in good shape," said Liz Young Thomas, head of investment strategy at SoFi. "We're in the early innings though, and coming up on the final days before the election and the next Fed meeting. Never a dull moment."
