Bets on inflation remaining muted helped push investors back into the stock market, driving the S&P 500 and Dow Jones Industrial Average to their biggest one-week gains since March. Stocks have rebounded in recent sessions, with the Dow rising seven straight sessions through Friday – its longest such streak since November. And shares of technology companies that came under pressure earlier in the year extended their recovery, with names like Google parent Alphabet, Facebook and PayPal all up more than 4% apiece for the week. The Dow industrials rose 92 points, or 0.4%, to 24831, advancing 2.3% for the week. The S&P 500 added 5 points, or 0.2%, to 2728 and posted a 2.4% weekly gain, while the Nasdaq Composite edged down 2.09 points, or less than 0.1%, to 7402.88 for a 2.7% weekly advance. Nvidia, which posted better-than-expected quarterly earnings Thursday, fell $5.60, or 2.2%, to $254.53, with some analysts attributing the decline to investors taking profits following a recent run-up in the stock. Despite the day's moves, Nvidia jumped 6.5% for the week and remained up 32% for the year. The US gold price was up 0.4% to 1317.90 US$/oz
Argonaut | The Natural Choice in Resources.
© 2024 Argonaut.