The Dow Jones Industrial Average closed at 26,412.30 on Friday with a gain of 269.25 points or 1.03%. The S&P 500 closed at 2,907.41 for a gain of 19.09 points or 0.66%. The Nasdaq Composite closed at 7,984.16 for a gain of 36.80 points or 0.46%. The VIX Volatility Index was lower at 12.01 for a loss of 1.01 points or -7.76%.
For the week, the Nasdaq gained 0.90%, the S&P 500 gained 0.79% and the Dow Jones gained 0.51%. For the year, the Nasdaq is up 20.3%, the S&P 500 is up 16.0% and the Dow Jones has a gain of 12.1%.
Friday’s market movers
U.S. market indexes closed with gains Friday after both JPMorgan (JPM, Financial) and Wells Fargo (WFC, Financial) beat earnings expectations. The top banks also set a positive outlook for next week’s reports, which include Citigroup (C, Financial), Goldman Sachs (GS, Financial), Bank of America (BAC, Financial) and Berkshire Hathaway (BRK.A, Financial)(BRK.B, Financial). Investors were also watching Disney (DIS, Financial) after the company released a new streaming product to rival Netflix (NFLX, Financial). In other news, the 10-year Treasury yield reached a three-week high of 2.560%, Chevron (CVX, Financial) announced it would be buying Anadarko Petroleum (APC) and Uber filed for its initial public offering.
Economic reports affecting market trading included the following:
- Import and export prices were released. Export prices increased 0.7% in March and 0.6% annually. Import prices increased 0.6% in March and were unchanged annually.
- The University of Michigan’s Consumer Sentiment Index decreased to 96.9 from 98.4.
- The Baker Hughes North American oil rig count decreased to 1,088 from 1,093.
- The World Bank and International Monetary Fund began their 2019 Spring Meetings event.
In the Dow Jones Industrial Average, the following stocks led gains:
- Disney (DIS, Financial) 11.52%
- JPMorgan (JPM, Financial) 4.69%
- Boeing (BA, Financial) 2.56%
- Goldman Sachs (GS, Financial) 2.47%
Small-cap stocks
In small caps, the Russell 2000 closed at 1,584.80 for a gain of 5.66 points or 0.36%. The S&P 600 closed at 969.91 for a gain of 4.14 points or 0.43%. The Dow Jones Small-Cap Growth TSM Index closed at 10,062.09 for a gain of 41.94 points or 0.42%. The Dow Jones Small-Cap Value TSM Index closed at 9,790.62 for a gain of 75.27 points or 0.77%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1,965.42 for a gain of 14.74 points or 0.76%; the S&P 100 at 1,281.09 for a gain of 7.91 points or 0.62%; the Russell 3000 at 1,715.42 for a gain of 11.00 points or 0.65%; the Russell 1,000 at 1,611.95 for a gain of 10.68 points or 0.67%; the Wilshire 5000 at 30,059.94 for a gain of 193.93 points or 0.65%; and the Dow Jones U.S. Select Dividend Index at 718.88 for a gain of 4.21 points or 0.59%.
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