Claire HunteStock prices advanced broadly on Friday as investors stepped up their buying shrugging off recent interest rate and inflation worries. Utilities, energy and technology were among the best-performing sectors.
Stock prices advanced broadly on Friday as investors stepped up their buying shrugging off recent interest rate and inflation worries. Utilities, energy and technology were among the best-performing sectors.
The three main averages all rose after a rollercoaster week. The Dow Jones industrial average finished up +1.39% to 25,309.99 and edged up +0.36% over five-day performance.
- Dow 25,309.99 +1.39%
- S&P 500 2,747.30 +1.60%
- Nasdaq 7337.39 +1.77%
- Russell 2000 1,549.19 +1.25%
- NYSE Composite 12,884.11 +1.36%
- Gold 1,330.5 -0.17%
- Oil WTI $63.57 +1.27%
- US 10 Year Treasury 2.866 +0.47 bp
The other major indicator, the S&P 500 added +1.60% and Nasdaq was lifted by rallying tech shares and added +1.77%.
Among tech shares: Hewlett Packard was up +10.54%; Intel, +4.21%; Microsoft, +2.54%; Apple +1.74%; Amazon, +0.99% and Facebook, +2.40%.
United Technologies dipped -0.32% and General Mills dropped -3.59% after it announced it was acquiring pet food maker, Blue Buffalo Pet Products for $8bn.
Oil field workers at work Source: Shutterstock.comTroubles in Libya support oil prices
Libya's 70,000 barrel-a-day oil field stopped production due to a labour dispute it was reported on Friday.
The El-feel was suspended after armed guards occupied the facility to protest unpaid wages.
Data showed declining stockpiles in the US were at their lowest levels since 2014 supporting WTI crude price which settled at $63.55 up 78 cents.