How major U.S. stock indexes fared Friday

How major U.S. stock indexes fared Friday

The DXY dollar index stood 0.5% higher Friday.

A sharp rally in tech and consumer discretionary stocks has already helped the Nasdaq recover much faster than the broader markets from a sell-off in February, hitting a record high late last month.

"We seem to be able to put trade worries on the back burner and focus on second-quarter results, which have been significantly positive", said Art Hogan, chief market strategist at B. Riley FBR in NY. It's a risk-on trade.

The latest data pointed to strength in the labour market, underscoring the health of the U.S. economy despite ongoing trade tensions.

The Dow Jones Industrial Average closed at 25,313.14 on Friday with a loss of -196.09 points or -0.77%.

Walt Disney (N:DIS) fell 0.8 percent after its quarterly profit missed estimates as new technology costs rose. The S&P 500 erased 0.075 point, or 0.03 per cent, to 2,857.70, Xinhua news agency reported.

Seven of the 11 major S&P sectors were higher, with the materials sector leading the gains as aluminum prices rose.

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The energy sector was the biggest loser, dragged down by Occidental Petroleum, the largest Permian producer, which boosted its capital expenditure.

The S&P 500 lost 7.07 points, or 0.2 percent.

Sinclair (SBGI.O) dropped 2.4 percent after Tribune Media (TRCO.N) ended its $3.9 billion deal to be acquired by Sinclair and filed suit. Shares of Apple rose 0.8 per cent, while those of Amazon were up 0.6 per cent. Rite Aid fell 11.5 per cent after the drug store chain and USA grocer Albertsons Cos agreed to terminate their merger agreement.

Meanwhile, concerns over escalating trade conflict between the US and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day.

Shares of trade-sensitive companies declined, with Boeing, 3M and Caterpillar down between 2.3 percent and 4 percent.

Declining issues outnumbered advancing ones on the NYSE by a 2.10-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favoured decliners.

Stocks traded little changed on Thursday as the S&P 500 was within striking distance of reaching an all-time high.

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