US stocks finished stronger on Friday, setting up a second straight week of gains, as upbeat retail news reinforced hopes for strong sales in the upcoming holiday season.
The Dow Jones Industrial Average rose 73 points to 10,270. The S&P500 Index added 6 points to 1,093 and the NASDAQ gained 19 points to 2,168.
In the latest economic news: US consumer confidence fell to its weakest level in three months amid grim expectations for jobs. The Reuters/University of Michigan’s preliminary sentiment index was 66 points in November from compared to 70.6 in October.
In company news: Walt Disney (NYSE:DIS) shares rose 4.78% to $30.44, after it posted a larger-than-predicted rise in both quarterly profit and revenue, as strong results from its cable business helped it overcome a disappointing stretch for its film studio.
JC Penney (NYSE:JCP) shares rose 6.19% to $31.21, as the department store operator reported third-quarter earnings that met expectations and said that earnings for the holiday quarter could beat estimates.
Abercrombie & Fitch (NYSE:ANF) shares jumped 10.66% to $40.68. The retailer reported adjusted third-quarter earnings that beat expectations, though same-store sales were down from the year before.
Genzyme (NASDAQ:GENZ) shares fell 7.32% to $49.28. The Food and Drug Administration said several batches of the company's rare disease drugs were contaminated with foreign particles, including stainless steel fragments.
In the NASDAQ Top 100: Sears Holdings was the best performer, adding 6.7% to $74.54. Investors also flocked to Marvell Technology Group and Joy Global. The worst performer was Liberty Global its down 7.97% to $21.26. Genzyme and Liberty Media also lost ground on Friday.
