US close: Stocks mixed on Middle East concerns, bank results

(Sharecast News) - Wall Street markets finished the week with a mixed performance on Friday, fuelled by the ongoing uncertainty surrounding the conflict between Israel and Hamas, partially offset by robust quarterly results from three of the nation's largest lenders.

At the close, the Dow Jones Industrial Average had a modest gain of 0.12% to settle at 33,670.29, while the S&P 500 declined 0.5% to 4,327.78.

The tech-heavy Nasdaq Composite faced a more substantial setback, finishing down 1.23% at 13,407.23.

In currency markets, the dollar was last up 0.06% on sterling to trade at 82.4p, while it decreased by 0.03% against the euro to 95.12 euro cents.

Meanwhile, the greenback declined 0.07% on the yen to change hands at JPY 149.46.

"Following China deflation worries, after inflation data missed expectations of a rise, and heightened tensions in the Middle East, European stock indices ended the week on a negative note," said IG senior market analyst Axel Rudolph earlier.

"Their US counterparts fared better though as major US banks reported rising profits from higher interest rates on loans.

"They did warn that the economy was slowing as customers depleted their savings, though.

"In other news, Xbox maker Microsoft closed its $69bn deal for Activision Blizzard as the UK regulator gave it the green light."

Consumer confidence drops in October amid inflation concerns

In economic news, the University of Michigan revealed that the consumer confidence index took a dip in October, reflecting growing concerns among Americans about rising inflation rates.

The decline in consumer sentiment was notable, but there was a silver lining in the long-term outlook.

The University's report indicated that the index slipped from September's reading of 68.1 to 63.0 for early October, slightly below the consensus forecast of 67.5.

That decline suggested that consumers are feeling the pinch of inflation, which had been a persistent concern in recent months.

However, the report also highlighted that long-term expected business conditions remained relatively stable.

That suggested that consumers maintain a degree of optimism, believing that the current economic challenges, including inflation, may not persist in the long run.

In a related economic development, import price increases for September failed to meet economists' expectations.

Mixed performance among major lenders' stocks, Boeing faces challenges

In equity markets, shares of major financial institutions showed a mixed performance.

Citigroup registered a decline of 0.24%, while JPMorgan Chase increased 1.5%, and Wells Fargo jumped 2.99%.

Elsewhere, Boeing faced a significant decline of 3.34% in its stock price amid concerns that the aerospace giant might need to revise its full-year guidance for 737 MAX aeroplanes.

The concerns stemmed from previously disclosed manufacturing flaws at one of Boeing's crucial suppliers, casting a shadow on the company's outlook.

Reporting by Josh White for Sharecast.com.

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $539.40 2.64% Travelers Company Inc. (TRV) $164.25 2.17% Chevron Corp. (CVX) $164.06 1.76% JP Morgan Chase & Co. (JPM) $148.00 1.50% Procter & Gamble Co. (PG) $144.70 0.96% McDonald's Corp. (MCD) $248.28 0.86% Nike Inc. (NKE) $99.89 0.66% Walmart Inc. (WMT) $159.76 0.55% Merck & Co. Inc. (MRK) $103.94 0.41% Visa Inc. (V) $237.71 0.38%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $23.25 -3.89% Boeing Co. (BA) $184.91 -3.34% Intel Corp. (INTC) $35.97 -2.36% International Business Machines Corporation (CDI) (IBM) $138.46 -1.97% Microsoft Corp. (MSFT) $327.73 -1.04% Dow Chemical Co. (DOW) $49.73 -1.03% Apple Inc. (AAPL) $178.85 -1.03% Verizon Communications Inc. (VZ) $30.68 -0.78% Caterpillar Inc. (CAT) $267.94 -0.62% Salesforce.Com Inc. (CRM) $204.59 -0.53%

S&P 500 - Risers

Dollar General Corp (DG) $111.16 9.16% Progressive Corp. (PGR) $155.01 8.13% Apartment Investment & Management Co. (AIV) $6.57 7.00% Allstate Corp (The) (ALL) $120.32 5.56% Apache Corp. (APA) $41.25 5.18% Marathon Oil Corp. (MRO) $28.07 4.74% Campbell Soup Co. (CPB) $39.71 4.34% Eog Resources Inc. (EOG) $133.84 3.78% Devon Energy Corp. (DVN) $48.39 3.64% ConAgra Brands Inc (CAG) $27.57 3.53%

S&P 500 - Fallers

Bread Financial Holdings, Inc. (BFH) $30.47 -4.75% Albemarle Corp. (ALB) $163.38 -4.34% Eaton Corporation plc (ETN) $208.60 -4.07% Norwegian Cruise Line Holdings Ltd (NCLH) $14.87 -4.07% Rockwell Automation Inc. (ROK) $288.38 -3.90% Walgreens Boots Alliance, Inc. (WBA) $23.25 -3.89% Microchip Technology Inc. (MCHP) $77.46 -3.79% FedEx Corp. (FDX) $242.84 -3.65% Kohls Corp. (KSS) $17.80 -3.63% Wynn Resorts Ltd. (WYNN) $90.28 -3.50%

Nasdaq 100 - Risers

Sirius XM Holdings Inc (SIRI) $4.85 5.66% Intuitive Surgical Inc. (ISRG) $273.15 2.64% Kraft Heinz Co. (KHC) $31.43 2.01% Incyte Corp. (INCY) $57.61 1.84% Liberty Global plc Series A (LBTYA) $16.34 1.62% Hologic Inc. (HOLX) $68.98 1.59% Liberty Global plc Series C (LBTYK) $17.71 1.55% Gilead Sciences Inc. (GILD) $77.65 1.16% Henry Schein Inc. (HSIC) $73.35 1.09% Take-Two Interactive Software Inc. (TTWO) $142.83 0.85%

Nasdaq 100 - Fallers

Walgreens Boots Alliance, Inc. (WBA) $23.25 -3.89% Microchip Technology Inc. (MCHP) $77.46 -3.79% Wynn Resorts Ltd. (WYNN) $90.28 -3.50% Expedia Group Inc. (EXPE) $99.16 -3.37% Booking Holdings Inc. (BKNG) $2,950.08 -3.24% Nvidia Corp. (NVDA) $454.61 -3.16% Tesla Inc (TSLA) $251.12 -2.99% Meta Platforms Inc. (META) $314.69 -2.92% KLA-Tencor Corp. (KLAC) $486.81 -2.85% American Airlines Group (AAL) $11.72 -2.82%