S&P 500, Nasdaq Set Closing High Records as Stocks End Week With Gains

The S&P 500 and Nasdaq Composite Index ended the week at record closing highs as stocks gained Friday after higher-than-expected economic growth data and a mixed bag of earnings reports.

The S&P 500 and Nasdaq eclipsed the records they set Tuesday with a modest advance on Friday. The S&P 500 gained 0.5%, while the Nasdaq rose 0.3%. Most sectors of the S&P 500 posted gains on Friday, including healthcare and financials. Consumer stocks also climbed.

The Dow Jones Industrial Average rose 0.3% as strength in a majority of the companies in the index made up for losses in Exxon Mobil (XOM), whose earnings report disappointed investors and Intel (INTC), which tumbled on its downbeat outlook.

Ford (F) posted Q1 earnings that beat expectations and was optimistic about the rest of the year, sending its shares up 11%.

For the week, the Nasdaq rose 1.9% while the S&P 500 gained 1.2%. The Dow fell fractionally.

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In economic news, gross domestic product increased by 3.2% in the first three months of the year, well ahead of the 2.3% consensus increase, according to Econoday. Consumer spending grew 1.2%, slightly ahead of the 1.1% consensus, according to Econoday.


Dow Jones Industrial Average was up 81.25 points (+0.31%) to 26,543.33
S&P 500 was up 13.71 points (+0.47%) to 2,939.88
Nasdaq Composite Index was up 27.72 points (+0.34%) to 8,46.40


FTSE 100 was down 5.94 (-0.08%) 7,428.19
Nikkei 225 was down 48.85 points (-0.22%) to 22,258.73
Hang Seng Index was up 55.21 (+0.19%) 29,605.01
Shanghai China Composite Index was down 37.43 points (-1.20%) to 3,086.40


(+) ALGN (+7.16%) Posts better-than-expected results

(+) RGEN (+20.35%) Guides first-quarter EPS and sales above estimates

(+) HELE (+21.61%) Fiscal Q4 EPS and revenue beat analysts’ forecasts


(-) TYPE (-14.81%) Misses Q1 estimates

(-) BGG (-14.25%) Fiscal Q3 adjusted EPS misses and guidance for FY19, FY20 lags expectations

(-) NR (-17.14%) Misses Q1 estimates