Dow clinches triple-digit gain on upbeat earnings
Stocks finished higher on Friday after a week of better-than-expected earnings highlighted how corporate profits have continued to march higher despite global growth headwinds. The S&P 500 rose 0.8% to end around 2,664. The Dow Jones Industrial Average advanced 176 points, or 0.7%, to finish near 24,729, based on preliminary numbers. The Nasdaq Composite climbed 1.3% to end near 7,165. For the week, all three equity benchmarks were mostly flat. Investors highlighted the upbeat tone in management conference calls amid concerns earnings growth had peaked last year as the boost from tax cuts faded. Aiding the positive tone in equities, President Donald Trump agreed a deal to reopen the government for three weeks and The Wall Street Journal reported that Federal Reserve officials were weighing an earlier end to its balance sheet reduction process. In corporate news, shares for Intel Corp. fell 6% after the chip manufacturer missed its sales expectations.
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