NEW YORK (CNNMoney)
Stocks were off to a strong start Friday morning as last month’s momentum seems to be carrying over into November.
The Dow Jones industrial average, the S&P 500 and the Nasdaq were all up about 0.4% in early morning trading.
Stocks are coming off a strong month. The S&P 500 gained 5% in October. Despite modest losses on Thursday, the Dow and S&P 500 are both hovering near record highs.
The main economic report coming out Friday is the ISM Index for October, which will be released at 10 a.m. ET.
Chevron shares tumbled after the energy company’s quarterly results missed expectations. AIG shares sank after the the company’s sales growth disappointed investors.
But shares of the Madison Square Garden. gained after the sports arena operator reported strong results.
Ford rose after the company reported that auto sales in the U.S. rose 14% in October. General Motors, Toyota and Honda will release their October sales figures through the course of the day.
Sony shares fell after the Japanese electronics maker posted a loss for the second quarter and said profits for the year would be 40% lower than forecast.
Shares in the Royal Bank of Scotland slid after the U.K. bank reported far worse than expected quarterly figures.
Avon shares slid again, extending Thursday’s 22% plunge. The U.S. cosmetics giant has been trying to stage a turnaround but posted much weaker-than-expected quarterly results on Thursday.
But First Solar stock surged after the solar panel company reported quarterly earnings that easily beat expectations.
European markets were mixed in afternoon trading. A tepid report on eurozone inflation gave rise to speculation about an interest rate cut by the European Central Bank. Asian markets ended mixed. Chinese stocks got a boost as a new report showed Chinese factory activity picked up speed in October.
