Wall Street closed out a winning April with gains Friday as more companies say their profits at the start of the year weren’t as bad as expected.
The S&P 500 rose 0.8% Friday. The Dow and the Nasdaq also rose. Exxon Mobil and Intel climbed after reporting better results for the latest quarter than analysts expected. They helped offset a drop for Amazon, which was hurt by a slowdown in revenue growth at its AWS cloud computing business.
Economic reports firmed expectations that the Federal Reserve will raise interest rates at its meeting next week. Inflation remains well above the Fed’s target.
On Friday:
The S&P 500 rose 34.13 points, or 0.8%, to 4,169.48.
The Dow Jones Industrial Average rose 272 points, or 0.8%, to 34,098.16.
The Nasdaq composite rose 84.35 points, or 0.7% to 12,226.58.
The Russell 2000 index of smaller companies rose 17.76 points, or 1%, to 1,768.99.
For the week:
The S&P 500 is up 35.96 points, or 0.9%.
The Dow is up 289.20 points, or 0.9%.
The Nasdaq is up 154.13 points, or 1.3%.
The Russell 2000 is down 22.52 points, or 1.3%.
For the year:
The S&P 500 is up 329.98 points, or 8.6%.
The Dow is up 950.91 points, or 2.9%.
The Nasdaq is up 1,760.10 points, or 16.8%.
The Russell 2000 is up 7.74 points, or 0.4%.
Sourse: abcnews.go.com
