U.S. Markets End Sour Month On Positive Note

New York, NY (AHN) - U.S. markets moved higher Friday as all three major indices finished with a gain. Friday's session also marked the end to the worst month the markets have seen in 21 years.

The Dow Jones Industrial average added 144 points or 1.5 percent. The financial components supplied the most strength with JP Morgan gaining 9.6 percent and Bank of America up 6.1 percent.

Friday's gain marked the firs time the Dow has posted consecutive gains since September. For the week, the Dow Industrials added 11 percent. However, the average still finished October down 14 percent.

The S&P 500 rose 15 points or 1.5 percent. Financials provided the most strength, up 5.5 percent on the session and 11.6 percent higher for the week.

Tech finished higher as the Nasdaq Composite added 22 points or 1.3 percent. The semiconductor stocks rebounded nicely from yesterday's sell off with the index rising 1.9 percent on Friday.

The Nasdaq finished the week with a 10.9 percent gain. It was a strong end to a rough month as the composite fell 18 percent in October.

Crude oil rose $1.85 a barrel to settle at $67.81 on Friday. The commodity capped of its worst monthly performance ever, down 40 percent from September's closing price of $100.64. The move surpassed the 30 percent drop set in February 1983.

On the economic front, consumer spending fell 0.3 percent in September. The result follows two months of flat spending as consumers have tightened their budgets.

The Commerce Department also reported that personal income in September rose 0.1 percent, in-line with expectations.