Yahoo Finance Stocks Gain, S&P 500 and Nasdaq Reach New Highs
- By Julie Young
U.S. market indexes were higher on Friday with the S&P 500 and Nasdaq Composite reaching new highs. The S&P 500 closed at 2415.82 for a gain of 0.75 points or 0.03%. The Nasdaq Composite closed at 6210.19 for a gain of 4.94 points or 0.08%. The Dow Jones Industrial Average closed at 21080.28 for a loss of -2.67 points or -0.01%. The VIX Volatility Index was lower for the day at 9.81 for a loss of -0.18 points or -1.80%.
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The intrinsic value of DIS
For the week, the Dow Jones Industrial Average gained 1.31%. The S&P 500 gained 1.41% for the week and the Nasdaq Composite gained 2.08%.
Friday's market movers
Stocks ended the week higher on Friday with positive reports on GDP and corporate profits. Economic reports released on Friday included the following:
Durable goods orders decreased by -0.7% for the month.
Gross domestic product was revised up in the second estimate to 1.2%.
Corporate profits reported a 12% increase from the first quarter of 2016.
The University of Michigan's Consumer Sentiment Index was released at a level of 97.1. The Index was below the previous reading of 97.7 and the consensus of 97.6.
In the Dow Jones Industrial Average, the following stocks led gains:
Disney (DIS) 1.05%
Caterpillar (CAT) 0.61%
3M (MMM) 0.57%
DuPont (DD) 0.53%
Microsoft (MSFT) 0.49%
In the broad market, consumer staples and consumer discretionary led gains for the day. Technology stocks in the S&P 500 were lower. The S&P 500 technology sector reported a loss of -0.01%.
Small-cap stocks
In small-caps, the Russell 2000 Index closed at 1382.24 for a loss of -1.14 points or -0.08%. The S&P 600 closed at 837.50 for a loss of -0.19 points or -0.02%. The Dow Jones Small-Cap Growth TSM Index closed at 8369.68 for a gain of 2.21 points or 0.03%. The Dow Jones Small-Cap Value TSM Index closed at 9424.39 for a loss of -21.68 points or -0.23%.
Other notable indexes
Other notable index closes included the S&P 400 Mid-Cap Index at 1727.27 for a loss of -4.07 points or -0.24%; the S&P 100 Index at 1065.35 for a gain of 0.42 points or 0.04%; the Russell 3000 Index at 1429.38 for a gain of 0.23 points or 0.02%; the Russell 1000 Index at 1338.57 for a gain of 0.32 points or 0.02%; and the Dow Jones U.S. Select Dividend Index at 657.52 for a gain of 0.19 points or 0.03%.
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This article first appeared on GuruFocus.
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The intrinsic value of DIS
