A Green Friday

Indices landed in the green zone on Friday. Brands such as Alcoa, Caterpillar, Apple and DuPont posted gains. Stocks moved higher amid QE3 optimism and other economic news. Consumer confidence is up this month. In a preliminary reading, the University of Michigan Consumer Sentiment Index hit 79.2. Up from 74.3 in August, economists had expected a slight decline to 74. On another note, the Census Bureau said retail sales jumped up 0.9% in August, following a downwardly revised 0.6% upswing in July. Economists had anticipated a gain of 0.7% for retail sales. In other news, the Bureau of Labor Statistics reported that the consumer price index rose by 0.6% in August, following unchanged results in July. The core measure, which excludes the food and energy components, rose 0.1% for the second month straight. Additionally, economists had expected the CPI to rise 0.5% in August and the core measure to edge up 0.2%. Looking ahead to next week, housing starts and existing-home sales data will be released. Oracle and FedEx will issue quarterly details.

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