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Wall St ends higher as Goldman rounds out parade of strong bank results

U.S. stocks ended higher on Friday after Goldman Sachs became the latest big bank to report strong quarterly earnings, and Wall Street's three major indexes posted gains for the week.

According to preliminary data, the S&P 500 (.SPX) gained 33.35 points, or 0.75%, to end at 4,471.61 points, while the Nasdaq Composite (.IXIC) gained 73.55 points, or 0.50%, to 14,896.98. The Dow Jones Industrial Average (.DJI) rose 384.83 points, or 1.10%, to 35,297.39.

Goldman Sachs Group (GS.N) shares jumped, giving the Dow its biggest boost, as a record wave of dealmaking activity drove a surge in the bank's quarterly profit. read more

Other big lenders also rose and were among the biggest positive for the S&P 500. The index's bank index (.SPXBK) ended sharply higher.

Forecasts now call for S&P 500 earnings to show a 32% rise in the third quarter from a year ago. The latest forecast, based on results from 41 of the S&P 500 companies and estimates for the rest, is up from 29.4% at the start of October, according to IBES data from Refinitiv.

European stocks close higher as earnings power global markets; Temenos slides 13%

European stocks closed higher on Friday as corporate earnings drove global markets north to close out the week.

The pan-European Stoxx 600 closed up 0.7%, with banks adding 1.7% to lead gains while media stocks dropped 0.4%.

Oil prices were in focus after rising on Thursday when top producer Saudi Arabia dismissed requests for additional OPEC+ supply, while the International Energy Agency said spikes in natural gas prices could bolster oil demand from power generators.

Reference:  Reuters, CNBC