Wall Street higher as consumer and bank stocks gain


Shares of Facebook tumbled Friday after it announced an overhaul of its newsfeed, while United States stocks added to records following data showing higher retail sales in December.

Chevron rose 3.2 percent and Exxon 1.5 percent, helping the S&P energy index gain 2.24 percent and putting it on track for its best percentage gain in more than seven months.

The Nasdaq is up 124.50 points, or 1.7 percent.

"The fact all the big money center banks beat on the bottom line is a good omen for the rest of the earnings season", said William Lynch, director of investments at Hinsdale Associates, in Hinsdale, Illinois.

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"Armenpress" reports the value of Dow Jones up by 0.89% to 25803.19 points, S&P 500 up by 0.67% to 2786.24 points, Nasdaq up by 0.68% to 7261.06 points.

The S&P 500 is up 43.09 points, or 1.6 percent.

Industrial companies that advanced included Dow members Caterpillar and Boeing which won 2.0 and 2.4 percent and Cummins, which advanced 1.9 percent. It closed at $1,305.20.

US stock indexes on Friday closed out what has been a stellar start to a calendar year for equity trading.

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The index was dragged by a 4 percent fall in Facebook's shares after the company started changing the way it filters posts and videos on News Feed.

The Treasury move helped push the utilities sector.SPLRCU down 0.6 percent, making it the weakest performer of the S&P 500's 11 sectors.

Advancing issues outnumbered decliners on the NYSE by 2,103 to 762.

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