Stocks finished mixed Friday, with the Nasdaq higher and the Dow Jones Industrial Average lower, after President Donald Trump’s China speech. Trump declared a working group to look into the practice of Chinese firms offering shares on U.S. exchanges and announced the U.S. would exit the World Health Organization. But he kept the U.S.-China trade deal intact.
At the close, the Nasdaq rose 1.3% and the S&P 500 added 0.5% in the stock market today. The Dow Jones industrials finished 0.1% lower, while small caps tracked by the Russell 2000 fell 0.5%. Early data show mixed volume, higher on the NYSE and lower on the Nasdaq, vs. Thursday.
For the week, the Dow rallied 3.8%, the S&P 500 gained 3% and the Nasdaq added 1.8%. All three indexes scored a second straight weekly advance.
The recent resurgence in tech stocks has lifted the Nasdaq to a 4% year-to-date gain. The S&P 500 is down 6% year to date and the Dow is off 11%. Despite a recent rebound, the Russell 2000 remains 16% underwater.
The stock market has been in a confirmed uptrend since an April 2 follow-through in the S&P 500. With Friday’s gain, the Nasdaq is now 3% below its Feb. 19 high. Read The Big Picture for a detailed analysis on daily market action.
Worldwide coronavirus cases are approaching 6 million, with more than 364,000 deaths, according to Worldometer data tracker. In the U.S., confirmed cases are close to 1.8 million with the death toll nearing 104,000. Though the counts continue to rise, daily cases and deaths have held below their respective peaks from April 24 and April 23.
All 50 states have now started to reopen their economies.
Aerospace Pressures, Techs Boost Dow Jones