Stocks
were
mixed
Friday
as
traders
assessed
the
latest
corporate
earnings
results,
and
the
Dow
Jones
Industrial
Average
stretched
its
winning
streak
to
10
sessions.
The
30-stock
Dow
climbed
2.51
points,
or
0.01%,
to
close
at
35,227.69.
The
S&P
500
added
0.03%
to
end
at
4,536.34,
while
the
Nasdaq
Composite
fell
0.22%
to
finish
the
session
at
14,032.81.
The
Dow
narrowly
notched
its
tenth
straight
day
of
gains,
a
feat
not
seen
for
the
index
since
August
2017.
On
a
weekly
basis,
the
S&P
500
added
0.69%,
while
the
Dow
gained
2.08%.
It
was
the
second
positive
week
in
a
row
for
the
two
indexes.
The
Nasdaq
fell
0.57%
for
the
period.
Trading
was
volatile
Friday as
portfolio
managers
recalibrated
their
funds
to
account
for
an
unusual
Nasdaq-100
rebalance
taking
effect
Monday.
A
large
volume
of
index
and
stock
options
also
expired
Friday.
Traders
were
still
eyeing
more
corporate
earnings
after
a
busy
week
of
quarterly
results.
Transportation
giant
CSX
fell
3.7%
on
the
back
of
underwhelming
results.
American
Express,
meanwhile,
dropped
nearly
3.9%.
Corporate
earnings
have
been
mixed
thus
far.
Seventy-five
percent
of
S&P
500
companies
that
have
already
reported
have
exceeded
analysts’
expectations,
according
to
FactSet
data.
However,
that
beat
rate
is
below
a
three-year
average
of
80%,
according
to
The
Earnings
Scout.
“…Overall,
early
Q2
results
appear
good
enough
for
equity
markets
to
grind
higher
for
now,”
Barclays’
Emmanuel
Cau
wrote
in
a
Friday
note.
“Next
week
will
be
more
indicative
of
the
broad
earnings
dynamics,
with
~50%
of
market
cap
reporting.”
