Markets

Close Update: Buying Accelerates into Friday's Close Even As Fed Uncertainty Lingers

A generic image of a stock chart.
Credit: Shutterstock photo

Led higher by strength in healthcare and transportation stocks, the Dow Jones Industrial Average gained altitude late on Friday and closed the week higher despite lingering uncertainty as to what the Federal Reserve will do at next week's crucial policy meeting.

Friday's economic data, which included inflation and consumer sentiment data, only added to the confusion as nominal PPI was a benign 0.0% last month, but was up by a more worrisome 0.3% with the volatile food and fuel segment excluded. This was followed by a sizeable deterioration in consumer sentiment, driven by volatility on Wall Street that has left investors unnerved.

But despite continued pressure on the energy complex, and the possibility that the Fed will hike U.S. rates next week, Wall Street put in its best performance since March. The Nasdaq Composite was the big winner this week with a 3% gain from last Friday, followed by a 2% gain for both the Dow and S&P 500.

Here's where the markets stood at the close:

US MARKETS

Dow Jones Industrial Index was up 102.69 points (+0.63%)

S&P 500 was up 8.76 points (+0.45%)

Nasdaq Composite Index was up 26.09 points (+0.54%)

GLOBAL SENTIMENT

FTSE 100 was down 0.62%

Nikkei 225 was down 0.19%

Hang Seng Index was down 0.27%

Shanghai China Composite Index was up 0.07%

UPSIDE MOVERS

(+) PGI (+21.06%) Agreed to be acquired by Siris Capital Group for approximately $1 billion

(+) SHAK (+13.26%) Initiated at Cowen with market perform rating, $42 PT

(+) AMD (+9.24%) Rumors circulated of possible Microsoft ( MSFT ) acquisition

(+) PBYI (+7.22%) Announced positive Neratinib data on breast cancer patient

(+) KR (+5.28%) Q2 earnings beat street expectations, guides FY15 earnings in-line

DOWNSIDE MOVERS

(-) CHKE (-38.53%) Reported weaker-than-expected Q2 results

(-) ZUMZ (-32.46%) Q2 results were in-line with expectations, but issued weak Q3 outlook

(-) EFOI (-28.57%) Prices stock offering at 26% discount

(-) MFRM (-23.28%) Lowered FY16 earnings guidance

(-) FNSR (-18.44%) Reported downbeat Q1 earnings, issued weak guidance, CEO Eitan Gertel resigns

(-) MRVL (-16.21%) Announced filing of non-timely 10-Q and weak preliminary results

(-) AVP (-15.12%) A potential private equity investment prompted concerns about Avon's health

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MSFT

Other Topics

Commodities

Latest Markets Videos