Global Stocks: U.S. stock indices gained on Friday and over the week

U.S. stock indices closed higher on Friday amid strong earnings reports from various companies.

The Dow Jones Industrial Average rose 91.06 points, or 0.5%, to 17,823.81 (+3.4% over the week). The S&P 500 climbed 7.93 points, or 0.4%, to 2,089.17 (+3.3% over the week). The Nasdaq Composite added 31.28 points, or 0.6%, to 5,106.78 (+3.6% over the week).

A 5.5% gain Nike Inc. stocks accounts for 46 points of the Dow Jones' increase.

San Francisco Federal Reserve Bank President John Williams signaled on Saturday he was prepared for a rate hike in December. He noted recent favorable data on the U.S. economy and said that upcoming economic reports could give "a clearer view of what's happening in the labor market" and the economy on the whole.

This morning in Asia Hong Kong Hang Seng declined 0.13%, or 30.64, to 22,724.08. China Shanghai Composite Index gained 0.12%, or 4.20, to 3.634.70. Japanese markets are on holiday due to Labor Thanksgiving Day.

Asian indices traded mixed. Banks and airline companies were leading declines in China in the early morning; however the index managed to return to the positive territory after a decline.

Asian investors are waiting for a series of earnings reports, including Ali Health, a unit of Chinese e-commerce company Alibaba.