U.S. stocks rose Friday, ending the benchmark S&P's best week of the year as investors waited for U.S. companies to report third-quarter earnings. Bobbi Rebell reports.
Stocks traded in a narrow range Friday going into the Columbus Day holiday weekend. The week saw the Dow top 17,000 and the S&P climb past 2,000. The S&P 500 had its best week of the year. Meridian Equity Partners' Jonathan Corpina: (SOUNDBITE) JONATHAN CORPINA, SENIOR MANAGING PARTNER, MERIDIAN EQUITY PARTNERS (ENGLISH) SAYING: "Talking to clients, talking to the traders down here. The risk-on trade is coming back. But it's coming back very slowly." Tesla's stock skidded. Barclays downgraded the shares of the electric car maker to "underweight" from "equal" and cut its price target. It said Tesla could miss its 2015 delivery forecast. University of Phoenix on probation. The Defense Department barred the operator of for-profit colleges from recruiting students on military bases and career fairs. Gap shares fell after seven brokerages cut their target price. The clothing retailer's same store sales in September fell more than analysts expected. It was the day's biggest loser on the S&P 500. Alcoa shares slumped one day after it kicked off earnings season with a smaller-than-expected profit. In Europe, mining and consumer cyclicals stocks drove shares to a one-month high.