S&P Flat Wrapping up Week of Gains
The S&P 500 was little changed on Friday following a three-day winning streak on Wall Street as investors weigh earnings from a major tech company and lingering trade fears.
The Dow Jones Industrials came off its lows of the morning, but remained negative 150.19 points to 39,943.21
The much-broader index squeezed ahead 4.86 points, to 5,489.63.
The NASDAQ Composite recovered 57.7 points to 17,223.74
The moves come after what has been a solid weekly performance for the market. The S&P 500 has taken on 3.8% and the NASDAQ is up 5.4% this week. The Dow has climbed 2%.
Alphabet jumped 3% after the Google-parent and “Magnificent Seven” name reported a beat on the top and the bottom line for the first quarter. By contrast, Intel fell 7% after offering disappointing guidance and revealing that it plans to slash operational and capital expenses.
Sentiment was hurt a bit Friday after comments from President Donald Trump were published by Time magazine. The president said he would consider it a “total victory” if the U.S. has high tariffs of 20% to 50% on foreign countries a year from now. Trump also denied that rising yields forced his hand in granting a 90-day pause on most of the higher tariff rates.
Prices for the 10-year Treasury gained ground Friday, lowering yields to 4.26% from Thursday’s 4.31%. Treasury prices and yields in opposite directions.
Oil prices reversed direction and gained 12 cents to $62.91 U.S. a barrel.
Prices for gold stumbled $55.20 to $3,23.40 U.S.
