U.S. Stocks Open Higher on Friday; Gap Plummeted 12%

Tiger Newspress2022-05-27

Stocks were higher Friday as the Dow Jones Industrial average was on pace to snap an eight-week losing streak.

The Dow Jones Industrial Average climbed 111 points, or 0.4%. The S&P 500 gained 0.7% and and the Nasdaq Composite rose 1.2%.

A report showing inflation slowing a bit helped give stocks a boost on Friday. The core personal consumption expenditures price index rose 4.9% in April, after 5.2% pace in the previous month. This particular report is watched closely by the Federal Reserve when setting policy.

Investors on Friday also continued to parse through retail earnings. Ulta Beauty shares were up about 9% after the company reported better-than-expected quarterly results, while Gap sunk nearly 13% after slashing its profit guidance.

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Comments

  • VivianChua
    2022-05-28
    VivianChua
    Ok 👌
  • AuntieAaA
    2022-05-28
    AuntieAaA
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  • Success88
    2022-05-28
    Success88
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  • Looyusooi
    2022-05-28
    Looyusooi
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  • PearlynCSY
    2022-05-28
    PearlynCSY
    S&P 500, Dow snap losing streaks for best week since November 2020. Investors got a reprieve from a painful sell-off as the Dow Jones Industrial Average and the S&P 500 rallied to close their best weeks since November 2020. All three of the major averages closed the week higher. The Dow finished up 6.2% for the week and snapped its longest losing streak, eight weeks, since 1923. The S&P 500 is 6.5% higher and the Nasdaq is up 6.8% on the week. Both indexes ended seven-week losing streaks. A report showing inflation slowing a bit helped give stocks a boost on Friday. The core personal consumption expenditures price index rose 4.9% in April, down from the 5.2% pace seen the previous month. 
  • kenong62
    2022-05-28
    kenong62
    Like
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