Stocks End Week With Gains
Updated from 4:53 p.m. EDT
Stocks in New York rose for the third time in four sessions Friday, as strong profit reports after the last close brought buyers back into the market.
The Dow Jones Industrial Average gained 53.49 points, or 0.39%, to 13,820.19. The S&P 500 was up 7 points, or 0.46%, to 1525.75. The Nasdaq Composite was better by 16.93 points, or 0.64%, to 2671.22.
For the major indices, it was their second winning week in a row, mostly thanks to the Federal Reserve's 50-basis-point interest rate cut on Tuesday. The Dow and the S&P 500 both climbed 2.8% for the week, and the Nasdaq added 2.7%."Today was a continuation of this week's good news, carrying us and allowing the rally to continue," said Paul Nolte, director of investments with Hinsdale Associates. "Next week there's a mess of earnings and data, so it will be tough to reconcile what the market has done this week. All in all, this was a positive end to a very good week." Breadth was positive. On the New York Stock Exchange 3.72 billion shares changed hands, as advancers topped decliners by a 5-to-3 margin. Volume on the Nasdaq reached 2.36 billion shares, with winners outpacing losers nearly 8 to 7. Crude oil pulled back a day after setting yet another record. The newly benchmarked November contract finished down 16 cents to $81.62 a barrel, but ended 4.5% higher on the week.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV