US close: Stocks higher ahead of MLK Day break

(Sharecast News) - Wall Street stocks were in the green at the close of trading on Friday as traders prepped for a three-day break. At the close, the Dow Jones Industrial Average was up 0.78% at 43,487.83, while the S&P 500 advanced 1.00% to 5,996.66 and the Nasdaq Composite saw out the session 1.51% firmer at 19,630.20.

The Dow closed 334.70 points higher on Friday, more than reversing losses recorded in the previous session as Q4 earnings season began to pick up steam.

Stocks were in the green on Friday as softer-than-expected consumer and producer price indexes continued to boost sentiment and show that inflationary pressures appeared to be easing somewhat, while solid earnings from a number of that nation's biggest banks also gave major indices a boost towards the end of the week.

Market participants also looked ahead to next week, with trading halted on Monday in observance of Martin Luther King Jr. Day. Donald Trump will also take the oath of office and be inaugurated as president for the second time on Monday.

On the macro front, building permits decreased by 0.7% month-on-month in December to a seasonally adjusted rate of 1.48m, according to the Census Bureau, while housing starts surged 15.8% to 1.49m, the biggest jump since March 2021.

Elsewhere on the data front, US industrial production increased 0.5% month-on-month in December, according to the Federal Reserve, the first gain in six months, following an upwardly revised 0.6% drop in November.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $21.49 9.25% Goldman Sachs Group Inc. (GS) $625.94 2.11% JP Morgan Chase & Co. (JPM) $259.16 1.92% Caterpillar Inc. (CAT) $386.02 1.44% Salesforce.Com Inc. (CRM) $324.56 1.42% 3M Co. (MMM) $141.03 1.33% Chevron Corp. (CVX) $161.47 1.31% Boeing Co. (BA) $171.09 1.28% Verizon Communications Inc. (VZ) $38.78 1.15% Microsoft Corp. (MSFT) $429.03 1.05%

Dow Jones - Fallers

Walgreens Boots Alliance, Inc. (WBA) $12.52 -3.17% Merck & Co. Inc. (MRK) $97.92 -2.76% Travelers Company Inc. (TRV) $239.52 -1.18% Johnson & Johnson (JNJ) $147.03 -0.50% Nike Inc. (NKE) $70.84 -0.38% Unitedhealth Group Inc. (UNH) $509.76 -0.16% Dowdupont Inc. (DWDP) $0.00 0.00% Home Depot Inc. (HD) $409.38 0.01% American Express Co. (AXP) $312.56 0.35% Procter & Gamble Co. (PG) $161.13 0.39%

S&P 500 - Risers

Qorvo, Inc. (QRVO) $84.21 14.43% Intel Corp. (INTC) $21.49 9.25% Schlumberger Ltd. (SLB) $43.58 6.06% Truist Financial Corp. (TFC) $47.65 5.94% Deere & Co. (DE) $455.44 3.72% Royal Caribbean Cr (RCL) $241.81 3.66% Broadcom Inc. (AVGO) $237.44 3.50% Albemarle Corp. (ALB) $97.49 3.36% National Oilwell Varco Inc. (NOV) $15.62 3.31% Paypal Holdings Inc (PYPL) $91.81 3.25%

S&P 500 - Fallers

J.B. Hunt Transport Services Inc. (JBHT) $172.45 -7.38% Eli Lilly and Company (LLY) $725.72 -4.21% Walgreens Boots Alliance, Inc. (WBA) $12.52 -3.17% Apache Corp. (APA) $24.39 -2.98% State Street Corp. (STT) $97.63 -2.85% Merck & Co. Inc. (MRK) $97.92 -2.76% Idexx Laboratories Inc. (IDXX) $419.26 -2.18% Zoetis Inc (ZTS) $165.89 -2.05% Harley-Davidson Inc. (HOG) $29.04 -2.02% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $405.01 -2.01%

Nasdaq 100 - Risers

JD.com, Inc. (JD) $39.00 10.11% Intel Corp. (INTC) $21.49 9.25% Broadcom Inc. (AVGO) $237.44 3.50% Paypal Holdings Inc (PYPL) $91.81 3.25% Microchip Technology Inc. (MCHP) $57.97 3.17% Nvidia Corp. (NVDA) $137.71 3.10% Micron Technology Inc. (MU) $105.75 3.07% Tesla Inc (TSLA) $426.50 3.06% Applied Materials Inc. (AMAT) $192.05 2.99% Seagate Technology Plc (STX) $97.67 2.73%

Nasdaq 100 - Fallers

J.B. Hunt Transport Services Inc. (JBHT) $172.45 -7.38% Walgreens Boots Alliance, Inc. (WBA) $12.52 -3.17% Idexx Laboratories Inc. (IDXX) $419.26 -2.18% Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $405.01 -2.01% Regeneron Pharmaceuticals Inc. (REGN) $681.58 -1.68% Incyte Corp. (INCY) $71.93 -0.75% Expedia Group Inc. (EXPE) $187.28 -0.74% CSX Corp. (CSX) $32.73 -0.73% Hasbro Inc (HAS) $57.34 -0.69% Intuit Inc. (INTU) $604.13 -0.52%