The US stock market closed the week with gains today, although the S&P and Nasdaq were down for the week overall. The Dow and the small-cap Russell 2000 both closed higher, with the Russell 2000 being the best performer due to hopes of lower rates benefiting those companies in the future. Here are the final numbers:
– Dow industrial average: 40,589.35, up 654.27 points or 1.64%
– S&P index: 5,459.09, up 59.86 points or 1.11%
– NASDAQ index: 17,357.88, up 176.16 points or 1.03%
– Small-cap Russell 2000: 2,260.06, up 37.08 points or 1.67%
For the trading week:
– Dow Industrial Average rose by 0.75%, closing higher for the fourth consecutive week
– S&P index fell by -0.83%, marking the second consecutive week of decline
– NASDAQ index fell by -2.08%, also declining for the second consecutive week
– Russell 2000 rose by 3.466%, marking the third consecutive week of increase
Looking ahead, next week will be significant as big companies like Amazon, Apple, Meta Platforms, and Microsoft are all scheduled to release their earnings. Today, Meta Platforms saw a 2.75% increase, Amazon went up by 1.47%, Alphabet dropped by 0.17%, Apple increased by 0.22%, Microsoft rose by 1.64%, Tesla dropped by 0.20%, and Nvidia increased by 0.71%. For a full list of other companies set to release their earnings, click HERE.
Additionally, the Federal Reserve’s interest rate decision on Wednesday will be a key event to watch next week. The week will also conclude with the US jobs report on Friday, with an estimated 177,000 jobs added and an unemployment rate of 4.1%. Overall, it will be an eventful week in the stock market with a mix of earnings reports and key economic indicators to guide investors.