Stocks rise on Friday | Apple stock surges | Major tech ETFs garner big inflows this week

All three indexes ended Friday on an upbeat note and posted gains for the week.

VIEW IN BROWSER | SUBSCRIBE FRI, OCT 28, 2022 EVENING BRIEF AS OF FRI, OCT 28, 2022 • 05:02 ET DJIA 32861.80 +2.59% +828.52 S&P 500 3901.06 +2.46% +93.76 NASDAQ 11102.45 +2.87% +309.78 Most Active DOW NAME LAST CHG %CHG AAPL 155.74 +10.94 +7.56% INTC 29.07 +2.80 +10.66% MSFT 235.87 +9.12 +4.02% S&P 500 NAME LAST CHG %CHG AMZN 103.41 -7.55 -6.80% AAPL 155.74 +10.94 +7.56% META 99.20 +1.26 +1.29% NASDAQ NAME LAST CHG %CHG AMZN 103.41 -7.55 -6.80% AAPL 155.74 +10.94 +7.56% META 99.20 +1.26 +1.29% EDITOR'S NOTE The three major indexes ended up Friday, allowing all to post gains for the week.    It was the fourth positive week in a row for the Dow Jones Industrial Average. The index added 5.7% for the week, its best performance since May. The S&P 500 and the Nasdaq Composite ended up 3.9% and 2.2%, respectively, this week.   It was a bumpy week as investors jumped between digesting mainly disappointing earnings from Big Tech with stronger reports from Dow companies and data indicating inflation may ease. Investors also looked to Apple and better-performing tech companies for refuge, pushing up the Nasdaq on Friday. The next two weeks could also be volatile — but for different reasons, market observers say.   Next week brings the November Federal Reserve meeting, which investors will be watching to see what the central bank does with rate hikes. While many expect the Fed to raise rates by another 75 basis points, some expect less hawkish language about the need to bat down inflation following recent data.    Some are also optimistic of smaller hikes at future meetings. Bill Adams, chief economist at Comerica Bank, said next week's potential hike is "probably the last one that big in this cycle." Jay Hatfield, CEO of Infrastructure Capital Management, said he was also "bullish" about next week's message, saying the central bank could roll back previously strong language on the need to cool inflation at any cost.   Market observers also expect the midterm election to affect markets, particularly if Republicans take a majority in the House of Representatives or Senate.   "Equity markets tend to like a gridlock situation because the chance of some major tax law legislation ... is slim," said Megan Horneman, chief investment officer at Verdence. Alex Harring | CNBC Markets Reporter @alex_harring Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow closes 800 points higher on Friday, registers fourth straight week of gains Elon Musk's first day owning Twitter leads to havoc and a possible hoax about layoffs Intruder at Pelosi home shouted 'where is Nancy?' before assaulting husband with hammer, source says Key inflation gauge for the Fed rose 0.5% in September, in line with expectations Apple stock closes out its best day since 2020 This is a new bull market that could rally further in November, according to the Stock Trader's Almanac Pending home sales fell 10% in September, much worse than expected Major tech ETFs saw big inflows this week as investors look to buy the dip from rough earnings Amazon shares fall 7% on weak fourth-quarter forecast Demand for Series I bonds crashes TreasuryDirect ahead of key deadline to secure 9.62% rate TOP VIDEO Apple facing incremental headwinds moving forward, says Bernstein's Toni Sacconaghi CNBC PRO This analyst says Amazon's dismal forecast signals a recession is already underway SPECIAL REPORTS 54% of adults say they have stopped or reduced their retirement savings contributions due to inflation, study shows 5 of the riskiest industries to work in during a recession, according to economists Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS