Stocks rose again on Friday, using the momentum from Thursday's strong rally, as strong quarterly earnings reports and economic data signalled a recovering economy. All three market benchmark rose, with the Dow continuing to gain from its 34,000 milestone while the S&P 500 closed at a fresh record high.
For the week, market averages all gained more than 1%, with the Dow and S&P notching their fourth straight positive week, while the Nasdaq marked its third straight week of gains.
Meanwhile, consumer sentiment rose in April over March as the United States vaccine drive continued to accelerate and businesses began to reopening, benefitting economic outlooks. The University of Michigan's preliminary April consumer sentiment index reading was 86.5, up from March's final print of 84.9 but below expectations.
"Consumers in early April reported surging economic growth and strong job gains due to record stimulus spending, low interest rates, and the positive impact of vaccinations," Richard Curtin, Surveys of Consumers chief economist, said in a statement. "The Sentiment Index rose to tis best level in a year on the strength of recent gains in current economic conditions while future economic prospects remained unchanged from March."
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
For Stocks, Coinbase
For Sector Performance, sectors ended mostly higher alongside the broader market, with Materials
For Commodities and Currency, the U.S. Dollar
For the week ahead, traders will look towards corporate quarterly earnings from companies like Netflix