Ford leads automakers higher; Decker stock drops

Shares of a major automaker rose on Friday on a strong earnings report, while a shoe and clothing maker lost ground after warning that tariffs and higher prices could discourage shoppers.

Major US stock indices ended the week at record levels after a lower-than-expected inflation report, boosting expectations of an interest rate cut by the Federal Reserve next week. The Nasdaq rose 1.2%, the S&P 500 added 0.8%, and the Dow Jones rose 1% to close above 47,000 for the first time. The three indices recorded gains of about 2% during the week. See here for more coverage from Investopedia From Friday market movements.

Ford Motor (F) was the best-performing stock in the S&P 500 on Friday, rising more than 12% after the automaker reported third-quarter earnings that beat analysts’ estimates. The strong results were overshadowed by a reduction in Ford’s forecasts regarding the effects of a fire at an aluminum supplier. Shares of other major automakers, including General Motors, also rose. Tesla (TSLA), which reported its quarterly results late Wednesday, finished down more than 3%.

Shares of International Business Machines (IBM) and Advanced Micro Devices (AMD) jumped nearly 8% to close at record levels after a report that IBM found it could run a key quantum computing error-correction algorithm on an easily obtainable and affordable chip made by AMD.

Shares of Micron Technology (MU), which provides memory solutions for AMD and Nvidia (NVDA) chips, also rose on the news, adding 6%. The SOX Semiconductor Stock Index ended the day up 1.9%.

Deckers Outdoor (DECK) shares fell more than 15%, leading decliners on the benchmark index. The Ugg and Hoka shoemaker gave a weaker-than-expected forecast, saying it expects a decline in consumer spending due to tariffs and higher prices.

Shares of Newmont (NEM), the world’s largest gold miner, fell 6.2% amid concerns about its production outlook, even though third-quarter results beat analysts’ estimates as the price of gold rose recently.