Strong company earnings boostedstockson Wall Street Friday. Investors also saw a chance to add to their holdings after declines earlier in the week.
Nike reported a surge in quarterly profit, sending itsstockprice to a record. Tiffany topped earnings predictions, boosted by demand from customers in Asia.
Investors were also drawn by a pause in the market’s big run up. That news brought down technologystocks.
FedEx ended the week Air Jordan 2010 10 percent lower after it reported a drop in quarterly profit and cut its annual earnings forecast on Wednesday. The company is a gauge of the economy because so many shoppers and businesses use its shipping services.
On Friday, investors took advantage of the market’s down week and ramped up theirstockbuying.
A resilient global economy has encouraged investors to pick upstockson any dips, said Ron Florance, managing director of investment strategy at Wells Fargo Private Bank.
“We still have an astonishing amount of money sitting on the sidelines,” said Florance.
The Dow Jones industrial average rose 90.54 points, or 0.6 percent, to 14,512.03 Friday. The Standard Poor’s 500 index rose 11.09 points, or 0.7 percent, to 1,556.89. The Nasdaq composite gained 22.40 points, or 0.7 percent, to 3,245.
Nike shares hit an all time high, rising $5.93, or 11 percent, to $59.53 after the company reported a 55 percent spike in quarterly net income. Tiffany rose $1.32, or 1.9 percent, to $69.23 after its strong fourth quarter earnings.
For the week, though, the S 500 was seven points, or 0.3 percent, lower than it was at the start of trading on Monday.
The index last logged a weekly decline Feb. 22, falling 0.3 percent, after investors were spooked by the minutes from the Federal Reserve’s January policy meeting. The minutes revealed disagreement over how long to keep buying bonds in an effort to boost the economy.
The Dow shed a fraction of a percentage point this week. Bank Wealth Management.
The biggest risk to the market run up this year will come when the Fed faces increasing pressure to end its stimulus program. That could Air Jordan 7s happened if the economy continues to improve andstockmarkets rise, said Sandven.
The yield on the 10 year Treasury note rose to 1.93 percent from 1.92 percent.
Among otherstocksmaking big moves Friday;
Micron Technology rose 97 cents, or 10.7 percent, to $10.05 despite reporting a loss in its fiscal second Air Jordan Women Size quarter later Thursday. The Air Jordan 11s chipmaker said that revenue grew 3 percent, to $2.08 billion, better than analysts had expected.
Anacor Pharmaceuticals Inc. climbed $1.24, or 25.6 percent, to $6.08 Friday, after the drug developer reported strong data from a mid stage study of a potential chronic rash treatment.
Air Jordan 23s Marin Software, a marketing software company, rose $2.26, or 16.1 percent, to $16.26 on its market debut. The San Francisco based company raised $105 million in its initial public offering.
AK Steel Holding fell 16 cents, or 4.6 percent, to $3.31, after projecting a larger than expected first quarter loss because a previously expected seasonal increase in demand for steel hasn’t materialized.
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