The Dow Jones Industrial Average closed at 34,200.67 on Friday with a gain of 164.68 points or 0.48%. The S&P 500 closed at 4,185.47 for a gain of 15.05 points or 0.36%. The Nasdaq Composite closed at 14,052.34 for a gain of 13.58 points or 0.10%. The VIX Volatility Index was lower at 16.25 for a loss of 0.32 points or -1.93%.
For the week, the S&P 500 gained 1.38%, the Dow Jones gained 1.19% and the Nasdaq gained 1.10%. For the year, the Dow Jones has gained 11.78%, the S&P 500 has a return of 11.4% and the Nasdaq is up 9.0%.
Friday's market movers
U.S. stocks finished strong on the last day of the trading week. The S&P 500 and Dow Jones reached record high levels. The major indexes were supported by upbeat bank earnings during the week, kicking off the earnings season and also helping economic optimism. Morgan Stanley (MS, Financial) reported its results on Friday.
Morgan Stanley: Revenue of $15.72 billion increased 60.7% year over year and beat estimates by $1.53 billion. First-quarter GAAP earnings of $2.19 per share beat estimates by 48 cents and non-GAAP earnings of $2.22 beat estimates by 49 cents. Morgan Stanley reported a $911 million loss from trading for Archegos.
In other news:
- Moderna (MRNA, Financial) gained 6.84% and Pfizer (PFE, Financial) gained 2.58% as demand for both of the companies' vaccines increased in light of the pause for Johnson and Johnson (JNJ, Financial).
- China's first-quarter gross domestic product was 18.3% higher than the first quarter of 2020.
- Videogame sales reported a record $5.6 billion in March.
- Building permits increased 2.7% in March following a decrease of 8.8%. Housing starts increased 19.4% following a decrease of 11.3%.
- The Michigan Consumer Sentiment Index increased to 86.5 in April from 84.9.
- The Baker Hughes weekly oil rig count showed an increase of seven rigs in the U.S., a decrease of two rigs in Canada and an increase of 14 rigs internationally.
- Tesla (TSLA, Financial) gained 0.13% with the announcement of its NASA-SpaceX contract.
- S&P 500 materials led sector gains with a return of 1.21%.
Small-cap stocks
In small caps, the Russell 2000 closed at 2,262.67 for a gain of 5.60 points or 0.25%. The S&P 600 closed at 1,347.95 for a gain of 4.06 points or 0.30%. The Dow Jones U.S. Small-Cap Growth Index closed at 15,036.15 for a gain of 1.11 points or 0.01%. The Dow Jones U.S. Small-Cap Value Index closed at 11,155.66 for a gain of 73.77 points or 0.67%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 2,721.08 for a gain of 20.80 points or 0.77%; the S&P 100 at 1,908.86 for a gain of 6.74 points or 0.35%; the Nasdaq 100 at 14,041.91 for a gain of 15.71 points or 0.11%; the Russell 3000 at 2,506.66 for a gain of 7.65 points or 0.31%; the Russell 1000 at 2,360.09 for a gain of 7.30 points or 0.31%; the Wilshire 5000 at 43,798.52 for a gain of 139.69 points or 0.32%; and the Dow Jones U.S. Select Dividend Index at 842.91 for a gain of 5.24 points or 0.63%.
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