US Stocks ended the week at new record highs on an optimistic outlook for the economy. The S&P 500 rose 0.9% and Dow surged 1.4% for the week. Abroad, the FTSE All World Ex US climbed 0.8% for the week. The 10-year Treasury yield rose to its highest level since July to finish at 1.93% as investor moved away from safe havens.
The eurozone grew at a 0.8% rate in the third quarter the same pace as the second quarter.
ISM’s nonmanufacturing index had a greater increase than expected by economists showing the service sector is performing well.
Consumer sentiment ticked higher in early November.
Of the 430 S&P 500 companies that have reported earnings to date, close to 75% have beaten analysts’ estimates.