The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.53%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.52%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.65%. December E-mini S&P futures (ESZ25) rose +0.55%, and December E-mini Nasdaq futures (NQZ25) rose +0.70%.
Stock index futures recovered from sharp overnight losses and moved higher on Friday as banking worries and trade tensions eased. Solid earnings results from regional banks on Friday lifted market sentiment after Truist Financial and Fifth Third Bancorp reported better-than-expected Q3 earnings. Regional bank stocks had tumbled on Thursday amid concerns about the credit quality of regional banks, sparked by news that Zions Bancorp and Western Alliance Bancorp were victims of fraud involving loans to funds that invest in distressed commercial mortgages.
