The Euro/US Dollar took a beating during the session, falling by 0.32%. Meanwhile, gold was roughly unchanged at $1,929.5 an ounce. Light Sweet Crude Oil had a negative day, falling 1.30% to 79.96 points.
The US stock market had some early swings but finished Friday’s session in positive territory. The S&P 500 gained 0.25% to 4,070.56, the Dow Jones rose 0.084% to 33,978.08, and the Nasdaq gained 0.95% to 11,621.71. The small-cap Russell 2000 finished up 0.44% to 1,911.46. All in all, a smooth day on the stock exchange.
Last week was a success story for all major stock indexes, as they all posted positive growth. The technology-focused index posted the most significant increase, climbing 4.32% and closing its fourth week of gains, which appears to be its best monthly performance since July. In addition, the S&P and Dow also recorded growth of 2.47% and 1.81%, respectively.
On Thursday, the GDP report revealed that the primary PCE services, except for housing, increased by an annual rate of 4.7% in the fourth quarter. In addition, the 12-month super-core inflation rate increased to 4.4% from 4.2%.
Jerome Powell, the head of the Federal Reserve, recently said he pays close attention to the cost of essential services, excluding housing costs.
Meanwhile, Intel reported a decline in its earnings, and the chip company posted substantial declines in the first quarter. INTC shares fell 6.13% on Friday, while they climbed 1.3% on Thursday. INTC stock is currently trading above the 50-day line. However, it is still below the 200-day line.
Tesla stock rallied 8.79%, higher than the 50-day, 10-week marker. The company’s profits grew 40%, slightly exceeding adjusted goals. Additionally, revenues increased 37%, with some estimates beating forecasts and others falling short of expectations.
US stocks finished higher: the S&P 500 gained 0.25% to 4,070.56, the Dow Jones rose 0.084% to 33,978.08, and the Nasdaq gained 0.95% to 11,621. 71.