Dow Jones closes above 35,000, posts weekly gain

US stock indices rose on Friday, lifted by major banks' strong earnings reports, and the release of upbeat economic data.

Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.

The season of the US companies quarterly earnings results continues, as some major banks reported higher profits and revenues than expected in the third quarter, which points out the ongoing economic recovery from the pandemic.

To the oil market, WTI crude November futures rose 1.2% or 97 cents, and closed at $82.28 a barrel, and posted a weekly gain of 3.7%.

Brent December futures rose 1% or 86 cents, and crude closed at $84.86 a barrel, with a weekly gain of 3%.

As for stocks, Dow Jones rose 1.1% or 382 points, and closed at 35,294, and posted a weekly gain of 1.1%, with a day high of 35,320, and a low of 35,023.

S&P 500 rose 0.5% or 74 points to 4,471 and posted a weekly gain of 1.8%, after hitting a high of 4,475 and a low of 4,447 points.

Nasdaq rose 0.5% or 74 points to 14,897, and registered a 2.2% weekly gain, with a high of 14,904 and a low of 14,847.