End of mixed actions on Wall Street, the S&P 500 manages a weekly gain | national news


By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers

Wall Street closed a choppy trading week on Friday with a mixed finish for major stock indexes, although the S&P 500 made its first weekly gain in three weeks.

The benchmark index rose 0.1% after spending much of the day swinging between small gains and losses. The Dow Jones Industrial Average also posted a gain of 0.1%, while the Nasdaq composite and the Russell 2000 index of small-company stocks fell.

Slightly more S&P 500 stocks rose than they fell, with communications companies and banks accounting for much of the rise. Health care and real estate stocks posted some of the biggest losses. The index finished with a gain of 0.5% for the week.

This modest performance follows a two-day rally that erased a slump earlier in the week. Investors faced similar turmoil throughout September as they tried to assess how the economy will continue to recover.

“Today the market was sort of catching its breath from the sharp decline in the first two days of the week and strong gains in the second two days of the week,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 6.50 points to 4,455.48 and is now less than 1.9% of the all-time high it hit on September 2. The Dow added 33.18 points to 34,798. The Nasdaq lost 4.54 points, or less than 0.1%, to 15,047.70, while the Russell 2000 lost 10.97 points, or 0, 5%, at 2,248.07.

About Troy McMiller

Check Also

Seoul shares open higher on easing uncertainty over Fed rate hikes

On Thursday, an electronic chart showing the Korea Composite Stock Price Index (Kospi) in a …

Leave a Reply

Your email address will not be published.