Stocks Headed for Another Upward Week - InvestingChannel

Stocks Headed for Another Upward Week

The S&P 500 was steady Friday as the benchmark index looked to close out its second consecutive positive week.

The Dow Jones Industrials moved up 139.74 points to 34,847,68.

The S&P 500 took on 6.34 points to 4,526.50

The NASDAQ Composite slumped 59.04 points to 14,132.80.

For the week, the S&P 500 and NASDAQ are each up more than 1%. The Dow is marginally higher week to date.

The S&P 500 is now up more than 3% in March, more than erasing its losses since Russia invaded Ukraine late last month.

The rebound has come even as the war in Ukraine continues and the Federal Reserve is set to hike interest rates several more times this year.

Financial stocks rose Friday as the 10-year yield jumped, comprising the top-performing S&P 500 sector. Bank of America and Wells Fargo each rose more than 1%.

Airlines were also among the top gainers Friday. American Airlines rose more than 3% and United Airlines added more than 2%.

Treasury prices slumbered, raising yields to 2.43% from Thursday’s 2.37%. Treasury prices and yields move in opposite directions.

Oil prices faded $1.84 to $110.50 U.S. a barrel.

Gold prices blundered $11.10 to $1,951.10 U.S. an ounce.

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