Dow Soars 200+, Heads for Weekly Gain - InvestingChannel

Dow Soars 200+, Heads for Weekly Gain

The Dow Jones Industrial Average advanced on Friday as the major U.S. averages headed for weekly gains.

The 30-stock index hiked 182.47 points to 44,052.82.

The S&P 500 index gathered 5.54 points to 5,954.25.

The NASDAQ Composite slid 29.92 points to 18,942.50, hurt by slides of more than 2% in Nvidia and 1% in Alphabet.

All three major averages are on track to end the week higher by more than 1%. That marks a turn from last week, when Wall Street’s postelection rally stalled.

Shares of Gap jumped more than 7% after the company beat earnings estimates and hiked its full-year sales guidance. However, Intuit slid more than 4% even after its quarterly report exceeded expectations on the top and bottom lines.

Elsewhere, investors kept an eye on bitcoin as it neared the long-awaited milestone of $100,000.

Prices for the 10-year Treasury lost a bit, raising yields to 4.43% from Thursday’s 4.42%. Treasury prices and yields move in opposite directions.

Oil prices gained 58 cents to $70.68 U.S. a barrel.

Prices for gold hiked $26.80 an ounce to $2,701.70 U.S.

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