The stock market stumbled out of the gate on Thursday due to concerns over U.S.-China trade relations, but found its footing as Apple (AAPL 207.39, +5.89, +2.9%) extended its post-earnings rally, becoming the first company ever to reach a market cap of $1 trillion. The S&P 500 finished higher by 0.5%, erasing an opening loss of around 0.6%.
Equities had a mixed outing on Wednesday as investors took in the latest batch of corporate earnings and digested the Fed's latest policy directive. The S&P 500 and the Dow Jones Industrial Average finished with modest losses, shedding 0.1% and 0.3%, respectively, while the tech-heavy Nasdaq Composite climbed 0.5%.
Stocks broke a three-session losing streak on Wednesday, with industrial shares leading the charge. The major averages extended modest opening gains throughout the morning, but slipped a bit in the final stretch, closing a step below their session highs. The S&P 500 added 0.5%; the Dow climbed 0.4%; the Nasdaq rose 0.6%; and the small-cap Russell 2000 jumped 1.1%.
Stocks dropped for a third straight session on Monday, with tech shares again pacing the retreat. Both the S&P 500 and the Dow Jones Industrial Average lost 0.6% apiece, while the tech-heavy Nasdaq Composite tumbled 1.4%. The averages opened flat, but slipped into the afternoon, settling just above session lows.
Stocks started Friday stable, but began tumbling in the afternoon, with tech shares pacing the broad-based retreat.
The tech-heavy Nasdaq dropped 1.5%, ending the week lower by 1.1%. The S&P 500 and the Dow also declined, losing 0.7% and 0.3%, respectively, but managed to keep in positive territory for the week (+0.6%; +1.6%). The small-cap Russell 2000 under-performed (-1.9%), extending its weekly loss to 2.0%.
Stocks eked out a slim victory on Friday following a range-bound day of trading on lighter-than-usual volume. The S&P 500 (+0.1%) hit some technical resistance at the 2800 level, which it hasn't been able to conquer since early February. The Dow Jones Industrial Average (+0.4%) did modestly better, and the Nasdaq Composite finished flat.
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