Rising value of indices
The US stock market surged in trading on Friday, with the S&P 500 and Nasdaq indices reaching record highs. By the end of last week Dow Jones indicator rose by 3.9%, the highest since the week ended November 13, notes MarketWatch. The S&P 500 and Nasdaq added 4.7% and 6%, respectively, ending the week with the biggest gains since the week ended Nov. 6.
According to data released by the US Labor Department on Friday, the number of jobs in the economy increased by 49,000 in January. Unemployment in the country last month fell to 6.3%.
The US Senate approved a budget resolution that would pass President Joe Biden's $1.9 trillion stimulus package without Republican support.
The US trade deficit in December 2020 was $66.6bn, compared with a revised November figure of $69bn, data from the country's Commerce Department showed. Experts polled by Trading Economics on average expected the US foreign trade deficit to decrease to $65.7bn from the previously announced $68.1bn in November.
The Dow Jones Industrial Average index rose 92.38 points (0.3%) to 31148.24 points.
The Standard Poor's 500 rose 15.09 points (0.39%) to 3,886.83 points.
The Nasdaq Composite added 78.55 points (0.57%) to 13856.3 points.
Estee Lauder (NYSE:EL) Cos. shares gained 7.8% on Friday.
Regeneron Pharmaceuticals Inc. stock price was up less than 0.1 percent.
T-Mobile US Inc. shares were down 4.1 percent. The telecom operator reported net income of $0.6 per share in the last quarter. However, the company warned that it will incur additional costs this year due to the integration of former Sprint customers, with whom T-Mobile merged last year.
The share price of Peloton Interactive Inc. is down 5.9%, although the simulator maker reported net income of $0.18 for the second fiscal quarter.