US stocks closed the week with gains during the day.
The S&P and Nasdaq remained lower for the week. The Dow Jones and Russell 2000 index of small companies closed higher, with the Russell 2000 the best performing index among the traded indices on hopes that lower interest rates will help those companies in the future.
The final numbers show:
- The Dow Industrial Average rose 654.27 points, or 1.64%, to 40,589.35.
- The Standard & Poor’s 500 Index rose 59.86 points, or 1.11%, to 5,459.09.
- The Nasdaq Composite Index rose 176.16 points, or 1.03%, to 17,357.88.
The Russell 2000 index of small-cap stocks rose 37.08 points, or 1.67%, to 2,260.06.
For the trading week:
- The Dow Industrial Average rose 0.75%, and the Dow closed higher for the fourth straight week.
- The S&P fell -0.83%, and the S&P fell for the second week in a row.
- Nasdaq -2.08%. Nasdaq fell for the second week in a row.
- The Russell 2000 Index rose 3.466% for the third straight week.
Next week will be a huge week as Amazon, Apple, Meta Platforms, and Microsoft are scheduled to report earnings.
today:
- Meta Platforms +2.75%
- Amazon, +1.47%
- Alphabet -0.17%
- Apple +0.22%
- Microsoft +1.64%
- Tesla -0.20%
- Nvidia +0.71%
A list of other companies scheduled to be released can be found here. Of course, the Fed’s interest rate decision on Wednesday will also be a major event. The week will also end with the US jobs report on Friday (177K jobs expected with an unemployment rate of 4.1%).