Stock Market Today: Stocks End Higher But Snap Spirals
The stock market finished the week strong on hopes the streak of aggressive Fed rate hikes will end sooner rather than later.


Stocks closed solidly higher Friday as Wall Street cheered reports the Federal Reserve could consider smaller rate hikes following its November meeting.
An early morning article in The Wall Street Journal suggested some Fed officials have been indicating they support slowing down the pace of rate hikes soon in order to allow what they've done thus far (one 0.25% increase followed by three straight 0.75% raises, and expectations for another 0.75% hike at the Nov. 1-2 meeting) to work. This, along with comments from San Francisco Fed President Mary Daly, who said today that "the time is now to start planning for stepping down," gave stocks enough reason to rally.
A fresh round of well-received corporate results created another tailwind for stocks, with beermaker Boston Beer (SAM, +19.7%) and regional bank Huntington Bancshares (HBAN, +9.5%) among those higher on Q3 beats.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Not all earnings reactions were positive, though. Snapchat parent Snap (SNAP) plunged 28.1% after reporting its lowest year-over-year revenue growth on record due to slowing ad spending.
At the close, the Dow Jones Industrial Average was up 2.5% at 31,082, the S&P 500 Index was 2.4% higher at 3,752, and the Nasdaq Composite jumped 2.3% to 10,859.
What a Stronger Dollar Means for Stocks
What's in store for next week? A busy earnings calendar loaded with Big Tech results. Among the names set to report are Alphabet (GOOGL), Amazon.com (AMZN) and Apple (AAPL). While earnings from those companies that have posted so far have been generally well received, this next batch could give us a bigger hint at how the stronger dollar impacted corporations in Q3.
"A strong dollar has been a drag for even some unsuspecting companies such as Johnson & Johnson (JNJ), Netflix (NFLX) and Levi's (LEVI), but it will especially be a headwind for multinationals," says Larry Adams, chief investment officer of Raymond James' private client group. "While the degree of the impact depends on the blend of costs versus sales overseas and how much of the currency risk is hedged, a stronger dollar typically impairs earnings." So, what does a stronger dollar mean for investors of these multinational corporations (and others)? Here, we take a closer look.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Callable CDs Have High Rates. We Still Don't Recommend You Get Them
Investors must carefully consider the trade-offs, as falling interest rates could lead to reinvestment at a lower yield and make selling on the secondary market difficult.
-
High Mortgage Rates Are Holding My Retirement Hostage: Can I Still Downsize and Retire?
We ask retirement wealth advisers what to do.
-
Stock Market Today: Nasdaq Hits a New High as Nvidia Soars
A big day for Nvidia boosted the Nasdaq, but bank stocks created headwinds for the S&P 500.
-
Stock Market Today: Markets Chop Up More Trump Threats
Stocks are grinding to new highs on light summer volume, and bitcoin is only getting bigger.
-
If You'd Put $1,000 Into Procter & Gamble Stock 20 Years Ago, Here's What You'd Have Today
Procter & Gamble stock is a dependable dividend grower, but a disappointing long-term holding.
-
Stock Market Today: Stocks Slip Ahead of Big Earnings, Inflation Week
Perhaps uncertainty about tariffs, inflation, interest rates and economic growth can only be answered with earnings.
-
Stock Market Today: Solid Signals Lift Stocks Despite Tariff Noise
Markets are whistling over the White House in an ongoing display of corporate America's enduring ability to survive and advance.
-
Stock Market Today: Trump's Copper Comments Cause a Stir
Markets remain resilient and monetary policy makers stand fast against a rising tide of new terms of trade, including around copper.
-
Stock Market Today: Trump Reextends His Tariff Deadline
When it comes to this president, his trade war, the economy, financial markets and uncertainty, "known unknowns" are better than "unknown unknowns."
-
Stock Market Today: President Trump Reboots the Tariff Trade
A broad consensus that markets hate uncertainty more than anything else is being tested on an almost daily basis in 2025.