SynopsisWall Street finished strong on Friday, fueled by optimism ahead of the third-quarter earnings reports from major players like Wells Fargo and Goldman Sachs. Analysts predict a notable growth in S&P 500 earnings year-over-year, even as worries about consumer sentiment loom.

Oil prices dipped initially due to conflicting US-Iran news but later recovered. More over, significant companies such as Delta Air Lines and Apple reported hurdles impacting their respective stock performances.

APWall Street ended higher on Friday as investors shifted their focus to next week, with third-quarter earnings season set to start and inflation data expected, which could shed light on the Federal Reserve's next policy decision, Reuters reported. 00.

54. “It’s the kind of back-and-forth market we’ve been in where we have the reversal of sentiment around Iran,” Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky told Reuters.

”“That’s why it’s a fairly tepid rally,” Mayfield added. Oil prices initially fell after President Donald Trump said the United States would not attack Iran before the midterm elections.

He also described talks between Washington and Tehran aimed at ending the conflict as “productive.” Long-term Treasury yields edged higher, although the benchmark 10-year yield remained below the 24-year high reached on Wednesday.

Banks prepare to report earningsThe third-quarter earnings season begins in earnest next week, with major US banks including Wells Fargo, Goldman Sachs, Citigroup, JPMorgan Chase, Bank of America and Morgan Stanley scheduled to report results. 6% year over year in the July-September quarter, according to LSEG data.

5%, respectively. US consumer sentiment weakened this month, according to the University of Michigan.

Near-term expectations fell to a record low, highlighting growing concerns among consumers, whose spending drives about 70% of the US economy. “Chips have been this year’s story,” said Michael Monaghan, portfolio manager at Founder ETFs in Dallas.

“(It’s) a multidecade technological change and just at the beginning of whatever’s happening, not at the end.” SpaceX agreed to acquire a nationwide portfolio of low-band spectrum, mounting a direct challenge to established US wireless companies.

T-Mobile US, AT&T and Verizon ended sharply lower. Humana jumped after US government data showed that 95% of the health insurer’s members were enrolled in Medicare Advantage plans rated four stars or higher for 2027.