Better-than-expected economic data helped stocks close higher Friday. The U.S. gross domestic product grew at 3.2 percent in the first quarter. Amid this positive news, the S&P 500 and the NASDAQ closed at record highs. For the week, the Dow fell 0.06 percent to close at 26,543.33. The S&P gained 1.21 percent to finish at 2,939.88, and the NASDAQ climbed 1.85 percent to end the week at 8,146.40.
The three major indexes achieved small gains in the last day of a short trading week going into the Easter weekend. Positive economic reports boosted investor confidence. March retail sales data beat expectations with a 1.6 percent rise, and U.S. jobless claims reached a 50-year low. For the week, the Dow rose 1.63 percent to close at 26,559.54. The S&P gained 0.60 percent to finish at 2,905.03, and the NASDAQ climbed 0.64 percent to end the week at 7,998.06.
Stocks rose Friday following a batch of encouraging corporate news, including strong bank earnings. At closing, all three benchmarks were within 2 percent of their all-time highs. For the week, the Dow fell 0.03 percent to finish at 26,412.30. The S&P gained 0.56 percent to finish at 2,907.41, and the NASDAQ climbed 0.57 percent to end the week at 7,984.16.
Wall Street stocks rose on Friday amid a strong jobs report and renewed hopes of an end to the U.S. – China trade dispute. According to the Labor Department, 196,000 nonfarm jobs were added in March. On Thursday, President Trump indicated Beijing and Washington were close to a trade deal. For the week, the Dow rose 2.79 percent to finish at 26,424.99. The S&P gained 2.78 percent to finish at 2,892.74, and the NASDAQ climbed 3.51 percent to end the week at 7,938.69.
At the end of every quarter, The CFG Wealth Management investment team provides a Quarterly Market and Economic Commentary. This report focuses on what’s going on in the capital markets this quarter and provides our perspective and advice.
Wall Street achieved broad gains Friday, ending the first quarter with the biggest quarterly gain in a decade. Hopes of a resolution to the nine-month trade dispute between China and the U.S. fueled the market’s performance, as officials reported China had made proposals that went farther than previously, particularly in the area of forced technology transfer. For the week, the Dow rose 1.67 percent to close at 25,928.68. The S&P gained 1.23 percent to finish at 2,834.40, and the NASDAQ climbed 1.13 percent to end the week at 7,729.32.