Stocks rose higher on Friday despite disappointing earnings report, with Wall Street ended the week in the green. The Dow Jones Industrial Average climbed over 700 points, while the S&P 500 Index and Nasdaq Composite both gained over 2% each.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Friday's moves extended the week's gains, with the Dow and S&P 500 rising 4.9% and 4.7%, respectively, while the Nasdaq added over 5%.
In the headlines, theWall Street Journal reported that some Federal Reserve officials are concerned about over tightening due to the central bank's aggressive rate hiking campaign. Still, the report indicated that the Fed is set to issue another 0.75% interest rate hike at its next meeting November 1-2.
The central bank's aggressive monetary policy has been a major driver of Wall Street's bear market this year.
On Friday, San Francisco Federal Reserve President Mary Daly said that she hopes the central bank will be able to "step down" on its rate of interest rate hikes, but is not sure when that will happen.
"My own view is that it should at least be something we're considering at this point. But the data haven't been cooperating," Daly said during a Q&A at the University of California Berkeley. "If only I could make the data do what I want them to do, but they haven't;s been cooperating."
Elsewhere, Snap
"Our revenue growth continued to decelerate in Q3 and continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds, and increased competition," Snap said in a letter to investors.
Snap's earnings pulled down other social media giants, with shares of Meta Platforms
