US stocks end week higher on strong earnings from Apple

By Aysu Bicer

ANKARA (AA) - US stocks closed in positive territory Friday as Apple announced its single-largest quarterly revenue, posting an 11% increase to $123.9 billion despite supply challenges.

The S&P 500 ended up 50.88 points, or 1.18%, to 4,377, while the technology-heavy Nasdaq soared 209.34 points, or 1.57%, to 13,562.

The blue-chip Dow Jones industrial average finished up 226.60 points, or up 0.66%, to 34,387.

It was a different story for European stocks which closed the last trading day of the week with losses as concerns about the direction of central banks' policies after high inflation put pressure on investor sentiment.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 1.02% and closed at 465.55.

France's CAC 40 index was down 0.82% to 6,965.88 points.

London’s FTSE 100 ended the day at 7,466.07, down 1.17%.

Italy's FTSE MIB 30 index lost 1.18% to 26,565.41 and Germany's DAX 30 fell 1.32% to 15,318.

It was noteworthy that European stock markets showed a weekly decline for four consecutive weeks for the first time since March 2020.