Wall Street Tracks Weekly Gains on Strong Banks Earnings, Retail Sales Data

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Oct. 12, 2021. Brendan McDermid/Reuters

U.S. stocks climbed on Friday and the main indexes were set for weekly gains after Goldman Sachs capped a strong earnings season for big banks, while a surprise rise in retail sales raised optimism about economic recovery.

Goldman Sachs gained 2.7 percent as a record wave of dealmaking activity drove a surge in the bank’s quarterly profit.