Dow Jones only gainer Friday, advances 211 points
NEW YORK, New York — The Dow Jones advanced on Friday, while the Nasdaq Composite and Standard and Poor’s 500 lost ground. A major fall in Netflix undermined the technology sector, while a rise in American Express based on a better earnings result than expected, helped push up the Dow. "You’ve seen rate-cutting expectations just continue to come out of the market, and they should be because there’s nothing about the data that says they should cut," Mike Dickson, head of research and quantitative strategies at Horizon Investments in Charlotte, North Carolina told Reuters Friday. "So in that environment when you’re sitting here near highs, that means it’s not going to be rates going down and multiples expanding because of that, that has to be driven by earnings growth. And so just the more the rate picture doesn’t look super-favorable for lower rates, even more important is the earnings growth picture." Here’s a recap of Friday’s closing quotes for the key indices: S&P 500 (^GSPC): The Standard and Poor’s 500 index closed at 4,967.23, marking a decline of 43.89 points or 0.88 percent. Dow Jones Industrial Average (^DJI): The Dow Jones Industrial Average closed positively at 37,986.40, up by 211.02 points or 0.56 percent. NASDAQ Composite (^IXIC): The NASDAQ Composite index on Friday experienced a major downturn, closing at 15,282.01, with a decrease of 319.49 points or 2.05 percent. These movements underscore the nuanced dynamics at play in the stock market, with investors assessing a range of factors including corporate earnings reports, economic indicators, and geopolitical tensions. Market participants continue to closely monitor developments both domestically and globally, adjusting their strategies accordingly to navigate the evolving landscape. As trading resumes in the upcoming week, attention will remain focused on key economic data releases and geopolitical events that could influence market sentiment and drive further movements in stock prices. Global Foreign Exchange Market Update: Friday’s Currency Exchange Rates In the world foreign exchange market on Friday, major currency pairs mostly succumbed to dollar demand, with the euro being the only exception. Here are the latest exchange rates for key currency pairs on Friday: EURUSD (Euro / US dollar): The euro last traded at 1.0654, for a minor gain of 0.10 percent, USDJPY (US dollar / Japanese yen): The Japanese yen exchange rate was last recorded at 154.60, showing a slight decrease of 0.02 percent. USDCAD (US dollar / Canadian dollar): The Canadian dollar fell to 1.3749, indicating a decrease of 0.13 percent. GBPUSD (British pound / US dollar): The British pound fell to 1.2371, showing a decline of 0.52 percent. USDCHF (US dollar / Swiss franc): The Swiss franc exchange rate eased to 0.9102, down 0.23 percent. AUDUSD (Australian dollar / US dollar): The Australian dollar to U.S. dollar exchange rate stood at 0.6417, indicating a decrease of 0.06 percent. NZDUSD (New Zealand dollar / US dollar): The New Zealand dollar dropped 0.28 percent to 0.5885. Global Stock Markets Close with Mixed Results on Friday, Major Fall in Taiwan On Friday, global stock markets witnessed a mixed performance as investors grappled with various economic and geopolitical factors. Stocks fell sharply in Asia, particularly Taiwan, Japan, Hong Kong, and Australia. Here’s a rundown of the closing stock market quotes for the key indices: CANADA S&P/TSX Composite index (^GSPTSE): The S&P/TSX Composite index showed a modest gain, closing at 21,807.37, up by 98.93 points or 0.46 percent. UNITED KINGDOM FTSE 100 The FTSE 100 index in London closed at 7,895.85, marking an increase of 18.80 points or 0.24 percent. EUROPE DAX PERFORMANCE-INDEX The German DAX PERFORMANCE-INDEX finished at 17,737.36, down by 100.04 points or 0.56 percent. CAC 40 The Paris-based CAC 40 ended almost flat Friday, closing at 8,022.41, with a marginal decrease of 0.85 points or 0.01 percent. ESTX 50 PR.EUR The ESTX 50 PR.EUR closed at 4,918.09, down by 18.48 points or 0.37 percent. Euronext 100 Index The Euronext 100 Index concluded at 1,495.88, showing a decrease of 4.92 points or 0.33 percent. BEL 20 In Brussels, the BEL 20 index ended at 3,827.75, up by 1.17 points or 0.03 percent. ASIA Nikkei 225 The Nikkei 225 index in Tokyo finished lower at 37,068.35 on Friday, showing a decline of 1,011.35 points or 2.66 percent. HANG SENG INDEX The HANG SENG INDEX in Hong Kong retreated to 16,224.14, down by 161.73 points or 0.99 percent. SSE Composite Index In China, the SSE Composite Index ended the day at 3,065.26, with a decrease of 8.96 points or 0.29 percent. Shenzhen Index The Shenzhen Index closed lower at 9,279.46, showing a decline of 97.35 points or 1.04 percent. STI Index Singapore’s STI Index finished at 3,176.51 Friday, down by 11.15 points or 0.35 percent. S&P BSE SENSEX The S&P BSE SENSEX in India concluded at 73,088.33, with a gain of 599.34 points or 0.83 percent. NIFTY 50 India’s NIFTY 50 index meantime closed at 22,147.00, up by 151.15 points or 0.69 percent. IDX COMPOSITE The IDX COMPOSITE in Indonesia finished at 7,087.32 on Friday, down by 79.50 points or 1.11 percent. FTSE Bursa Malaysia KLCI The FTSE Bursa Malaysia KLCI concluded at 1,547.57, up by 2.81 points or 0.18 percent. KOSPI Composite Index South Korea’s KOSPI Composite Index on Friday closed at 2,591.86, with a decline of 42.84 points or 1.63 percent. TSEC weighted index There was a major sell-off in Taiwan with the TSEC weighted index sinking to 19,527.12, showing a substantial decrease of 774.08 points or 3.81 percent. OCEANIA S&P/ASX 200 The S&P/ASX 200 index in Australia finished at 7,567.30, down by 74.80 points or 0.98 percent. ALL ORDINARIES The Australian ALL ORDINARIES index meanwhile closed at 7,817.40, down by 81.50 points or 1.03 percent. S&P/NZX 50 INDEX GROSS ( GROSS In New Zealand on Friday, the S&P/NZX 50 INDEX GROSS ended at 11,796.21, down by 39.83 points or 0.34 percent. AFRICA Top 40 USD Net TRI Index The Top 40 USD Net TRI Index finished at 3,782.19, marking a gain of 10.42 points or 0.28 percent. MIDDLE EAST Middle East markets were mostly closely on Friday and will reopen on Sunday.