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 July 14, 2017 - 4:27 PM EDT
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S&P, Dow Close at Records

S&P, Dow Close at Records

Stocks rose to record levels on Friday as earnings season kicked off.

The Dow Jones Industrials leaped 84.65 points to 21,637.74, to notch a new record

The S&P 500 gained 11.44 to 2,459.27, also at record levels it had not seen since June 19.

The NASDAQ added 38.03 points to 6,312.46

The major indexes have overcome several hurdles recently to climb back to record territory. First, tech stocks showed signs of weakness to close out the first half of the year. Tech has been the best-performing sector this year, rising about 20%.

The U.S. stock market has also overcome headlines regarding Russia's involvement in the U.S. election as they awaited the start of earnings season.

JPMorgan Chase, Citigroup and Wells Fargo all posted better-than-expected profits. Shares of JPMorgan and Citigroup fell, however, after reporting declines in trading sales.

One expert noted that, of the 30 S&P 500 companies that have reported, 80% have beat on the bottom line.

He added these companies have shown 15% earnings growth and 6.2% sales growth.

Prices for the benchmark 10-year Treasury note jumped Friday, lowering yields to 2.33% from Thursday's 2.36%. Treasury prices and yields move in opposite directions

Oil prices gained 51 cents to $46.59 U.S. a barrel

Gold prices boosted $10.50 to $1,227.80 U.S. an ounce.


Source: Livemoney US Market Commentary (July 14, 2017 - 4:27 PM EDT)

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