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By Staff Reporters
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The S&P 500 index closed above 5,000 for the first time ever, as investors reflected on robust company earnings and data showing inflation rose even less than was previously thought in December. One stock that wasn’t going places: Expedia, which fell after reporting earnings that took a hit from low airfares.
Here’s where the major benchmarks ended:
- The S&P 500 index rose 28.70 points (0.6%) to 5,026.61, up 1.4% for the week; the Dow Jones Industrial Average lost 54.64 points (0.1%) to 38,671.69, up 0.04% for the week; the NASDAQ Composite® (COMP) surged 196.95 points (1.3%) to 15,990.66, up 2.3% for the week.
- The 10-year Treasury note yield (TNX) rose less than 1 basis point to 4.175%.
- The CBOE Volatility Index® (VIX) rose 0.14 to 12.93.
Technology sector strength was highlighted by chip makers, as the Philadelphia Semiconductor Index (SOX) gained 2%. Regional banks also ended the week on a firm note after slumping in recent days, and small-cap stocks also firmed. The small-cap Russell 2000® Index (RUT) jumped 1.5% Friday and ended the week with a gain of 2.4%, ending just below its high for the year.
In other markets, WTI crude oil (/CL) futures gained for the fifth straight day, completing a 7.2% gain for the week amid growing concern the Middle East conflict may disrupt supplies.
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Filed under: "Ask-an-Advisor", Breaking News, Drugs and Pharma, Experts Invited, Financial Planning, Investing | Tagged: CBOE, crude, DJIA, Expedia, NASDAQ, NYC, oil, RUT, S&P 500, SOX, TNX, VIX, WTI |
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