U.S. stocks close slightly higher, Nasdaq hits new record

Closing Indexes Summary Oct 12

S&P 500 measures the performance of 500 widely held common stocks of large-cap USA companies. Volume on the NYSE was tracking slightly higher than Thursday's levels.

JPMorgan Chase and Citigroup also posted stronger-than-expected quarterly results on Thursday.

The Dow Jones Industrial Average climbed 30.71 (+0.13 percent) to finish at 22,871.72.

Meanwhile, shares of Equifax declined 1.53 percent after the company said it is investigating another possible cyberbreach.

The Nasdaq composite declined 12.04 points, or 0.2 percent, to 6,591.51.

Bank of America (BAC.N), the second-biggest USA bank by assets, rose 1.5 percent after the lender's profit topped estimates due to higher interest rates and a drop in costs.

Bank of America Corp (BAC) Earnings: 10 Things to Know About Q3
Its P/Cash is valued at 0.42, allowing investors to have a useful look at the company's value in contrast to the P/E ratio. Company's EPS for the past five years is valued at 19.42%, leading it to an EPS value of 11.06% for the next five years.

The S&P's 500 index gained 4.60 points, or 0.2%, to 2,555.24.

In small-caps, the Russell 2000 Index closed at 1,505.16 for a loss of 1.76 points or 0.12%.

The reports from the Wall Street banks kicked off the third-quarter earnings season, with investors hoping profit growth will help justify valuations after a rally that has sent the S&P 500 up about 14 percent so far this year.

On the economic front, the Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August.

Major stock indexes held modest gains Friday afternoon, with the Dow Jones industrial average and S&P 500 poised for their fifth straight weekly price gain.

The Russell 2000 is up 148.03 points, or 10.9 percent.

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