US Stocks End Week Down After Wednesday's Big Drop

Despite modest gains Friday
By Newser Editors and Wire Services
Posted May 19, 2017 3:34 PM CDT
Trader Kenneth Polcari works on the floor of the New York Stock Exchange earlier this week.   (AP Photo/Richard Drew)

(Newser) – Industrial companies led US stocks broadly higher Friday, extending the market's modest gains from the day before, the AP reports. Investors were cheering solid earnings from several companies. Banks and materials stocks were also up sharply. Energy companies also moved higher as the price of crude oil rose. Deere & Co. jumped 7% after delivering a strong earnings report, and Chesapeake Energy climbed 4%. Foot Locker plunged 17% after its profits fell short of analysts' forecasts.

The Standard & Poor's 500 index increased 16 points, or 0.7%, to 2,381. The Dow Jones industrial average gained 141 points, or 0.7%, to 20,804. The Nasdaq composite rose 28 points, or 0.5%, to 6,083. Indexes still ended the week lower after a big drop on Wednesday. (Read more stock market stories.)

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