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Julie Young
Julie Young
Articles (1116) 

US Market Indexes Close Higher Friday After JPMorgan, Wells Fargo Earnings

S&P 500 up 16% for the year

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 (NYSE:JPM) and Wells Fargo (NYSE:WFC) beat earnings expectations. The top banks also set a positive outlook for next week’s reports, which include Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B). Investors were also watching Disney (NYSE:DIS) after the company released a new streaming product to rival Netflix (NASDAQ:NFLX). In other news, the 10-year Treasury yield reached a three-week high of 2.560%, Chevron (NYSE:CVX) 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:

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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About the author:

Julie Young
Julie Young is a financial writer with comprehensive experience in the financial services industry. She writes about investments, investment products, financial market news and economic trends. Julie has a Master of Science in finance from Boston College and a Bachelor of Science in finance from the University of Arkansas.

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