A look at highlights from the day's business news:
Stocks kick off October with gains
U.S. stocks began the month higher, clawing out gains Friday as a better-than-expected reading on personal income overshadowed a mixed manufacturing report.
The Dow Jones industrial average ended 42 points higher, or 0.4 percent, after gaining more than 70 points earlier. The S&P 500 rose 5 points, or 0.4 percent, and the Nasdaq edged up 2 points, or 0.1 percent.
Stocks finished lower Thursday, but the Dow and S&P 500 still managed to close out the month with their biggest September gains since 1939.
A slightly better-than-expected report on the state of the consumer helped push stocks higher Friday, said Alec Young, equity strategist with S&P Equity Research.
Treasury market eyes more Fed purchases
Treasury yields were mixed Friday amid speculation that weak economic data will spur the Federal Reserve to accelerate its purchases of U.S. bonds and notes.
The yield on the 10-year note rose to 2.53 percent from 2.52 percent late Thursday as its price edged lower. The yield on the 30-year note rose to 3.72 percent from 3.69 percent.
But the shorter end of the yield curve was under pressure. The yield on the 2-year note was 0.43 percent, versus 0.44 percent, and the 5-year yield slid to 1.27 percent from 1.28 percent.
Yields rallied early in the session after a key index of activity in the manufacturing sector fell to a 9-month low. It was the latest in a string of disappointing economic reports an raised bets the Fed will expand its purchases of U.S. Treasurys, a policy called quantitative easing.