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Wall Street higher as consumer and bank stocks gain; Facebook falls

Earnings for S&P 500 companies are expected to increase on an average by 11.8% in the quarter


Wall Street's main indexes were higher on Friday as strong December retail sales data drove gains in consumer stocks and bank results pushed up the financial sector. The S&P consumer discretionary index jumped 0.55 percent after data showed households bought a range of goods and figures for the prior month were revised higher, suggesting the economy exited 2017 with strong momentum. Amazon rose 1.3 per cent and provided the biggest boost to the S&P and the Nasdaq. JPMorgan Chase & Co rose 0.5 per cent in choppy trading after the biggest US  bank by assets reported ...

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First Published: Fri, January 12 2018. 21:57 IST