Mixed Close Ends Positive Week On Wall Street
Umer Jamshaid 6 days ago Sat 15th February 2020 | 08:50 AM
New York, (UrduPoint / Pakistan Point News - 15th Feb, 2020 ) :US stocks posted mixed results on Friday, capping a week that saw all indices hit records then recede before bounding back amid fears over the new coronavirus outbreak.
Wall Street has been eyeing the outbreak in China that has spread widely, infecting nearly 64,000 people and killing almost 1,400, raising fears of a sustained disruption of the global economy.
Meanwhile, economic statistics released Friday did little to spur the markets, although key companies including Nvidia and Expedia posted solid results.
The benchmark Dow Jones Industrial Average closed down 0.1 percent at 29,398.08 points.
The tech-rich Nasdaq posted a gain of 0.2 percent at 9,731.18 points, while the broad-based S&P 500 also rose 0.2 percent to 3,380.16 points.
"It's a mixed session," said Peter Cardilla of Spartan Capital Securities, who pointed to a Monday holiday in the United States.
"No one wants to commit money before the long weekend." Nonetheless, the major indices made substantial gains over the week as a whole, with the Dow up one percent, the Nasdaq growing 2.2 percent and the S&P 500 up 1.6 percent.
Industrial production statistics released by the Federal Reserve showed a drop of 0.3 percent over the same period, blamed on Boeing's decision to shut down production lines for its grounded 737 MAX aircraft, data that Cardilla said underlined the mixed nature of the trading day.