The U.S. stock market edged higher today after the U.S. senate managed to pass a budget blueprint that is seen as a step toward revamping the tax code. In corporate news, Synchrony and PayPal both reported positive results while GE and Procter & Gamble reported weak third quarter results. In economic news, September existing home sales rose 0.7% month-over-month, beating expectations while remaining below last September's levels. U.S. Treasury yields rose on the strength in the equity markets. The Dow Jones Industrial Average rose 457 points, or 2.0%, for the week.
The Dow Jones Industrial Average* was up 166 points or 0.7% to 23,329
The Standard & Poor's 500 Index was up 13 points or 0.5% to 2,575
The NASDAQ Composite Index was up 24 points or 0.4% to 6,629
The 30-year Treasury yield closed higher at 2.89%. And the 10-year Treasury yield finished higher at 2.38%
The spot price of gold fell $9.06 to $1,281.04
And the price of crude oil rose $0.46 to $51.97
See our Weekly Market Update.
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