Friday’s earnings offset some of the concerns about the impact of weak global demand on US corporations. Honeywell shares gained 4.3 percent to USD 90.06 after results. General Electric shares rose 2.4 percent to USD 24.82 on its earnings.

US stocks extended their rebound from this month’s bruising selloff on Friday, giving the S&P 500 its best day in over a week, as worries about the US earnings outlook eased, but the S&P 500 still posted its fourth straight week of declines. The S&P 500’s streak of weekly losses was its longest since August 2011, and the index still is off 6.2 percent from its Sept. 18 record high.

The drop follows worries over the health of the global economy, the spread of the Ebola virus, as well as factors including lower oil prices and uncertainty about the Federal Reserve’s next steps. However, the broad index this week steered clear of correction territory, a 10-percent drop from its high. Friday’s earnings offset some of the concerns about the impact of weak global demand on US corporations.

Honeywell shares gained 4.3 percent to USD 90.06 after results. General Electric shares rose 2.4 percent to USD 24.82 on its earnings. The S&P 500 posted its biggest one-day percentage gain since Oct. 8 and some investors said the recent selloff may have run its course. “This should be it.

The sharemarket should do well once we get by some of these geopolitical risks that are on top of us right now, the Ebola thing and the mid-cycle elections,” said Michael Mullaney, chief investment officer at Fiduciary Trust Co in Boston, which oversees more than $11.3 billion. “I would think the market is going to be strong into the close this year.” Small caps closed lower. The Russell 2000 index was down 0.4 percent after a three-day streak of more than 1 percent gains, its best since July 2012. The index gained 2.8 percent for the week.

Coustery : http://www.moneycontrol.com/news/international-markets/wall-street-gains-1resultssp-down-for-4th-week_1206772.html