Retail sales were up 0.7% in September, despite shortages.
New throughout, changes byline, adds dateline to Dow 1.1% NEW YORK, Oct 15 - Reuters - US stocks rose on Friday as Goldman Sachs added the latest big bank to report strong results and better sales than anticipated.
The three major stock indexes were on track to post gains the week as well.
Goldman Sachs Group increased 4.4%, giving the Dow a big boost as a record wave of dealmaking activity drove a jump in the bank's quarterly profit.
Other big lenders rose also, and the S&P 500 index was up 2.6%.
Results from big financial institutions this week have provided a strong start to quarter-end U.S. earnings, though investors will still be watching for signs of impacts from supply chain disruptions and higher energy and other prices in the coming weeks.
Earnings of the S&P 500 are now forecast to have risen 32% in the third quarter from a year ago. The forecast, based on the results from 41 of the S&P 500 companies and estimates for the rest, is down from 29.4% in October, according to IBES data from Refinitiv.
Here is going to be an earnings-driven rally that I hope lasts. We'll really see the results in the next couple of weeks as a great bulk of companies report in all sectors, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.
Investors also digested a Commerce Department report that showed retail sales rising in September unexpectedly, while a preliminary reading for consumer sentiment in October came slightly under expectations.
Dow Jones Industrial Average rose 395.05 points, or 1.13%, to 35,307. 61, the S&P 500 gained 35.98 points, or 0.81%, to 4,474. 24 and the Nasdaq Composite added 72.49 points, or 0.49%, to 14,895 on February 14. Airlines and other travel-related shares edged higher, with the White House announcing it will lift travel restrictions for fully-vaccinated foreign nationals effective Nov. 8 at land borders and air travel.
The S&P 2000 Airlines Index was up 0.3%, while cruise operator Carnival Corp was down 0.7%.
Moderna Inc shares closed down 3.5%. A Wall Street Journal report, citing people familiar with the matter, said the U.S. Food and Drug Administration is delaying its decision to authorize Moderna's COVID 19 vaccine for adolescents to check if the shot could increase the risk of heart inflammation.
The news came a day after an FDA panel voted to recommend booster shots of its COVID 19 vaccine for adults aged 65 and older and high-risk people.
Shares of Bitcoin and blockchain-related firms including Riot Blockchain reached $60,000 for the first time since April as bitcoin declined in value.
Advancing issues favored advancers on the Nasdaq by a 1.74 - to -1 ratio; on the NYSE, a 1.23 - to - 1 ratio favored advancers.
The S&P 500 posted 54 new 52 week highs and no new lows; Nasdaq Composite ranked 116 new highs and 46 new lows.