Dow Achieves 10-Session Win Streak… Barely - InvestingChannel

Dow Achieves 10-Session Win Streak… Barely

Stocks were mixed Friday as traders assessed the latest corporate earnings results, and the Dow Jones Industrial Average stretched its winning streak to 10 sessions.

The 30-stock index came off its highs of the day, but surpassed Thursday’s close by 2.51 points to end Friday and the week at 35,227.69.

The S&P 500 forged ahead 1.47 points to 4,536.34.

The NASDAQ index sank 30.5 points to 14,032.81.

A large volume of index and stock options also expired Friday.

Traders were still eyeing more corporate earnings after a busy week of quarterly results. Transportation giant CSX fell 3.5% on the back of underwhelming results. American Express, meanwhile, fell 3.4%.

Corporate earnings have been mixed thus far. Seventy-five percent of S&P 500 companies that have already reported exceeding analysts’ expectations, according to FactSet data. However, that beat rate is below a three-year average of 80%, according to The Earnings Scout.

Trading is likely to be volatile Friday as portfolio managers recalibrate their funds to account for an unusual NASDAQ rebalance taking effect Monday. A large volume of index and stock options also expired Friday.

Prices for the 10-year Treasury gained slightly, lowering yields to 3.84% from Thursday’s 3.85%. Treasury prices and yields move in opposite directions.

Oil prices regained $1.25 to $76.90 U.S. a barrel.

Gold prices dropped $6.50 to $1,964.40 U.S. an ounce.

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