Stocks close slightly higher, extending weekly advance

Discussion in 'Market News' started by sniper-academy, Jul 14, 2018 at 4:23 AM.


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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    U.S. stocks closed slightly higher on Friday, with major indexes extending a recent rally and the Dow reclaiming the 25,000 mark for the first time in nearly a month. The Dow Jones Industrial Average rose 0.4%. The S&P 500 added 0.1%. The Nasdaq Composite Index rose less than 0.1%, but that was enough to give it its second straight record close. All three posted their sixth rise of the past seven sessions. For the week, the S&P rose 1.5%, the Nasdaq added 1.8% and the Dow advanced 2.3% in its biggest weekly percentage gain since early June. All three posted their second straight weekly climb. Among the most actively traded stocks were financials, which fell following a trio of major bank earnings. JPMorgan Chase & Co. fell 0.5% despite topping analyst expectations, while Citigroup Inc. was down 2.3% and Wells Fargo & Co. lost 1.2%. Separately, Cisco Systems Inc. sank 4.1% following a report that Amazon.com Inc. was considering selling its own network switches with built-in connections to its Amazon Web Services cloud-computing offerings. AT&T Inc. fell 1.8% a day after the Justice Department filed an appeal of a ruling allowing the telecoms major to acquire Time Warner Inc.

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