During the ongoing earnings season, both the Dow and the S&P 500 registered their second consecutive weekly gains, while the NASDAQ experienced a slight decline. As of Friday, during the second week of the earnings season, approximately 75% of the S&P 500 companies had surpassed the analysts’ predictions for their quarterly net income, as reported by FactSet.
On Friday, the Dow Jones Industrial Average recorded a marginal gain of 0.01%, achieving its 10th consecutive day of positive trading. The primary driving force behind this ongoing positive streak for the Dow was the strong financial performance reported by several companies within the 30-stock index during the quarterly earnings season. Thanks to these positive results, the Dow has seen an overall increase of more than 4% throughout this 10-day period.
Reviewing the US Stock Markets, the Nasdaq Composite, recorded a decent loss of 23 points, reaching a closing value of 14,090 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, adding 31 points to settle at 4,536 points. Meanwhile, DJIA Index experienced a notable surge, adding by 718 points during the week and concluding at 35,227 points after a week of gain.
In contrast, Russell 3000 Index saw a gain in week performance, with a hike of 20 points to reach 2,611 points by the end of the week.
Moving to Russell 2000 Index, demonstrated a notable added of 29 points, ending the week at a steady 1,960 points.
