Stocks rallied on Friday to finish the week strong after briefly losing the momentum of the January rally.
The Nasdaq was also the outperformer for the week, posting a 0.55% gain and its third positive week in a row. The Dow finished the week lower by 2.70%, and the S&P posted a 0.66% loss, both breaking two-week win streaks."We're having a more emotional reaction that expected," said Jeff Kilburg, founder and CEO of KKM Financial. "A lot of people got so pessimistic and we saw parabolic moves to kick off the year.
Investors continued to monitor earnings reports and mega cap tech shares led the market higher. Netflix gained about 8.5% aftereven though its quarterly earnings missed analysts' estimates. Alphabet rose more than 5% after the company announced it will lay off 12,000 employees. The Dow Jones Industrial Average added 329.81 points, or 1%, the S&P 500 advanced 1.89% and the Nasdaq Composite rose 2.66%.
ClosingBell The commodity speculators must be laughing their butts off, they have the whole planet running around crazy
More Santoli please. He's good.
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