Week Ends on Bright Note for U.S. Stocks, Crude Prices Go Up

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Week Ends on Bright Note for U.S. Stocks, Crude Prices Go Up
Week Ends on Bright Note for U.S. Stocks, Crude Prices Go Up

Week Ends on Bright Note for U.S. Stocks, Crude Prices Go Up

The U.S. though did not have so much to feel good about the employment data as it was not the expected lines, on Friday, the stock market rebounded from a deep slump earlier in the week to muster the first positive five-day stretch after three weeks of declines. Thus, overall, the week ended on a positive note.

Nonetheless, major indexes closed higher. Whereas the Dow Jones industrial average capped a 0.6 percent gain for the week, the S&P 500 index finished up 0.8 percent.

Despite the gain, the two indexes of the U.S. are still down for the year. On slightly better trading Friday, the Dow Jones industrial average rose 165.55 points, or 1.1 percent, to 15,794.08.

A similar trend was seen in the Standard & Poor’s 500 which rose 23.59 points, or 1.3 percent, to 1,797.02. Following the upward movement in the major indexes, even the NASDAQ composite increased 68.74 points, or 1.7 percent, to 4,125.86.

Major Gainers and Losers

On Friday’s trading, several companies gained. Major gainers were the companies from industrial and health care sectors. Also, it was a good day for some travel stocks. Expedia soared $9.31, or 14.3 percent, to $74.45. A similar trend was seen in the stock value of TripAdvisor which leapt $7.31, or 9.5 percent, to $84.45.

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However, the best thing to happen was that all 10 sectors in the S&P 500 index moved higher. The better trading day came up with some of the better performances for some companies like publishing company News Corp., which rose $1.39, or 8.7 percent, to $17.41. The upward movement was followed by the Gap which added $2.29, or 5.8 percent, to $42.

The major loser on Friday’s trade was LinkedIn which fell $13.86 or 6.2 percent, to $209.59 after the company said its performance may falter this year. The company earlier declared that it spends more on long-term projects and revenue growth slows; the statement seems to have great impact on the investors.

Another major loser was Cigna which declared that its earnings fell short of analysts’ expectations. Its stock sank $7.90, or 9.3 percent, to $77.47. A similar trend was followed by Flir Systems, which makes thermal imaging systems. The company’s stocks fell $1.48, or 4.6 percent, to $30.71. The bright side of the trade was that crude prices were up on Friday.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com