U.S. stocks settle higher

Asian shares held near a two-month high on Friday, catching a few of Wall Street’s shine after upbeat US price and jobless claims data eased a few concerns about the strength of the USA economy.

The Dow Jones industrial average rose 19 points, or 0.1 percent, to 17,161 as of 10:07 a.m. Eastern time.

Investors mostly focused on the latest company earnings news as they searched for insight into how the global economy is doing. Shares of GE, which is a Dow component and a barometer of economic health at home and overseas, were rallying and were up 81 cents, or 2.9%, to $28.84.

Buyers overall though remained hesitant after Thursday’s sharp gains, when the S&P 500 added 1.49 percent and the Nasdaq 1.82 percent.

Futures on Japan’s Nikkei 225 Stock Average were bid up 0.3 per cent in the Osaka pre-market, at 18,260, with the country’s broader Topix index down 1.6 per cent in the holiday-shortened week despite rallying 1.4 per cent yesterday.

US markets opened higher and were bouncing around unchanged this afternoon in what traders described as a slow session. Its revenues for the third quarter 2015 fell 1.3 percent to 31.68 billion dollars.

Friday’s gains follow a rise in stocks on Thursday after lackluster economic data further eroded expectations that the Federal Reserve would raise interest rates this year from ultralow levels.

BONDS AND CURRENCIES: USA government bond prices didn’t budge.

Topix index climbed 1.3 percent as the yen slipped 0.2 percent after touching its strongest level since August. 24 on Thursday. China’s third-quarter growth figures are due Monday.

Including results from 57 companies in the S&P 500, earnings are on track to slip 4.6 per cent in the third quarter, according to FactSet. “That in my mind is really the key question going into earnings season”.

The yield on the 10-year U.S. Treasury notes rose to 2.025%, having fallen below 2% on Wednesday. Shares of Goldman Sachs Group Inc. rose 3% despite reporting a 36% drop in quarterly profit.

“The decline in industrial production in September was a much smaller fall than we were expecting, but it nonetheless illustrates the impact that the stronger dollar is having on manufacturing and the impact that the slump in energy prices is having on mining output”, said Paul Ashworth, chief U.S. economist at Capital Economics.

In Asia, Chinese benchmark Shanghai Composite Index soared 2.32 percent on improving sentiment and expectation of more growth-supportive policies. By the close, November-dated crude was up 88 cents, or 1.9%, at $47.26 per barrel.