Wall Street closes higher ahead of US bank results

The Dow Jones Industrial Average gained 0.8% to close at 51,654.95 on Friday, according to an ANP report carried by Nieuws.nl. The S&P 500 and Nasdaq each rose 0.6%, finishing at 7,811.54 and 27,366.17 respectively. Investors were looking ahead to quarterly results from major US banks due the following week, ANP said. [1]

ANP also reported that SpaceX had agreed to acquire nationwide low-band spectrum licences. According to the report, SpaceX said the deal could help its Starlink satellite internet service become a major mobile provider in the US. Shares in AT&T, Verizon and T-Mobile US fell by as much as 13% amid concerns about increased competition, ANP said. [1]

Delta Air Lines was little changed after reporting quarterly results and cutting its full-year profit forecast by nearly a quarter, according to ANP. ANP said rising fuel costs outweighed strong travel demand and higher ticket prices. [1]

US consumer confidence fell in early October to its lowest level in five months, the University of Michigan reported, according to ANP. The report cited household concerns about fuel prices and inflation. ANP reported that new US inflation figures were due the following week, with a Federal Reserve interest-rate decision scheduled for later in October. [1]