U.S. market indexes were higher Friday. For the day, the Dow Jones Industrial Average closed at 18308.15 for a gain of 164.70 points, or 0.91%. The S&P 500 was also higher, closing at 2168.27 for a gain of 17.14 points, or 0.80%. The Nasdaq Composite closed higher at 5312.00 for a gain of 42.85 points, or 0.81%. The VIX Volatility Index was lower at 13.14 for a loss of 0.88 points, or -6.28%.
In the Dow Jones Industrial Average, the following stocks led gains:
Wal-Mart (WMT, Financial) 1.97%
Chevron (CVX, Financial) 1.63%
Caterpillar (CAT, Financial) 1.49%
JPMorgan (JPM, Financial) 1.43%
On the economic calendar Friday were the following reports: Consumer Sentiment, Personal Income and Outlays and the Baker Hughes Rig Count. The University of Michigan’s Consumer Sentiment Index increased to 91.2 from 90.1. The Personal Income and Outlays report showed personal income increasing by 0.2%. The PCE Price Index showed annual inflation of 1% and the Core PCE Price Index increased 1.7% annually.
The Baker Hughes Rig Count reported an increase of 35 oil rigs in North America. In the U.S. the rig count increased by 11 and in Canada the rig count increased by 24. Oil prices ended the day with small gains. WTI crude was up 0.33% to $47.99. Brent crude increased 0.34% to $49.98.
Stocks were higher Friday after Thursday’s positive GDP and corporate profits report with Deutsche Bank becoming less of a factor. It seems Deutsche Bank’s settlement will be approximately $5.4 billion, down from the previously estimated $14 billion.
A market report from The Street provided more details on Deutsche Bank and the day’s trading.
Disclosure: I do not own any stocks included in this article.
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