Stocks end higher Friday. The Dow gained 18 points to 26458 while the S&P 500 was essentially unchanged at 2913. The Nasdaq Composite climbed 4 points to 8046.
The major averages closed out the week mostly lower, but ended the quarter and month on a positive note. Friday’s session left the Dow with a 1.1% weekly decline and the S&P 500 lost 0.5%. The Nasdaq, however, finished the week 0.7% higher. The Dow added 1.9% in September and 9.0% higher for the quarter. The S&P 500 gained 0.4% for the month and notched its best quarterly performance since 2013, gaining 7.2%. Despite the Nasdaq’s 0.8% September decline, the tech-heavy sector finish the quarter up 7.1%. On the data front, the core PCE deflator, which is the Fed’s preferred measure of inflation, increased 2.2% year-over-year in August. Separately, personal spending rose 0.3% in August.
Gains in the Utilities and Real Estate sectors were countered by losses in Financials and Materials. Chipmakers outperformed with Intel adding 3.0% to $47.29. NVIDIA rose 5.1% to $281.02 following an analyst upgrade. In other corporate news, Facebook lost 2.7% to $164.46 after the social media company announced a security breach that affected 50 million users.
Breadth was positive on issues by 3:2 on the NYSE and by 6:5 on the Nasdaq. Composite NYSE Volume was more than 3.4 billion shares.
Treasuries were mixed, with the yield on the 10-year note up one basis point to 3.06%. In commodities, WTI crude added 1.9% to $73.48/barrel. COMEX gold gained 0.8% to $1,191.50/ounce despite a stronger dollar.