Stocks finished mixed Friday. The Dow gained 64 points to 25,063 while the S&P 500 added 2 points to 2,706. The Nasdaq Composite fell 17 points to 7,263.
The major averages fluctuated amid a robust labor market update and an influx of corporate profit tallies. The benchmarks all notched weekly advances with the Dow climbing 1.3%, the S&P 500 gaining 1.6%, and the Nasdaq adding 1.4%. On the data front, non-farm payrolls increased 304,000 in January, well above December’s downwardly revised 222,000 reading. Average hourly earnings increased 3.2% year-over-year in January while the unemployment rate climbed from 3.9% to 4.0%. A separate update from the Institute for Supply Management revealed manufacturing activity rebounded in January after posting the steepest drop in over a decade in December.
Six of 11 S&P 500 sectors ended in positive territory. Energy shares paced gains with Exxon-Mobil adding 3.4% to $75.77 while Chevron rose 2.8% to $117.84 after both oil-giants easily topped analyst profit projections. Tech stocks also outperformed with Symantec jumping 8.9% to $22.91 after the cyber security firm topped earnings estimates. Consumer Discretionary was a notable underperformer with Amazon losing 5.6% to $1622.70 after the e-commerce giant offered cautious sales guidance for 2019.
Breadth was positive on issues by 5:4 on the NYSE and 3:2 on the Nasdaq. Composite NYSE volume was more than 3.7 billion shares.
Treasuries weakened with the yield on the 10-year note climbing five basis points to 2.69%. In commodities, WTI crude advanced 2.9% to $55.34/barrel. COMEX gold fell 0.1% to $1,318.30/ounce.