US close: Dow and S&P set new records as Greece reaches bailout agreement
US stocks rallied on Friday, as news emerged that Greece was granted a four-month extension on its bailout agreement with the Eurozone.
Cabot Oil & Gas Corp.
$28.43
11:10 25/04/24
Dow Jones I.A.
38,085.80
04:30 15/10/20
Wal-Mart Stores Inc.
$60.21
11:09 25/04/24
The Dow Jones Industrial Average closed up 154.17 points to 18,140.44 setting a new record for 2015, while the S&P 500 climbed 12.85 points to 2,110.30, its third record for the week, and the Nasdaq closed the last session of the week up by 31.27 points.
Austria’s finance minister Hans Jörg Schelling said the Eurozone approved a four-month extension on Greece’s bailout, subject to Athens submitting details on the reform and budgetary measures it plans to take by Monday.
The four-month extension is two months short than Greece had requested on Thursday and strengthens the position of the country's creditor.
Meanwhile, US manufacturing grew from 53.9 in January to 54.3 in February, as output levels rose at the fastest pace in four months, though they did so at a weaker rate than the average for 2014 as a whole.
Production volumes expanded at a solid pace in February, registering the biggest increase since October, while overall new orders also increased.
“The production upturn occurred despite widespread delivery delays caused by heavy snowfall and port strikes, which may have also been a factor behind the near-stagnation of exports, suggesting the underlying picture may have been one of slightly stronger growth," said Markit chief economist Chris Williamson.
“However, the rate of growth remains well down on last year’s peaks, and a slowing of new orders growth to the weakest for just over a year looks to have caused employers to take a more cautious approach to hiring."
Noodles & Co tanked over 31% after reporting late on Thursday that its fourth quarter earnings had fallen short of estimates,
Wal-Mart edged 0.93% higher even though analysts at Barclays downgraded the company to equal weight from overweight and cut their target price to $85 from $90, while Cabot Oil & Gas rose 1.26% despite swinging to a fourth quarter loss amid plunging oil prices and cutting its growth outlook.
Deere & Co. rose 0.79% despite reporting a 17% drop in sales and warning of further troubles ahead as it continues to suffer from weak demand.
Gold futures fell 0.59% to $1,200.50, while the dollar gained over 0.1% against the pound and 0.1% against the yen but fell by the same margin against the euro.
Oil prices fell, with West Texas Intermediate losing more than 2% to settle at $50.76 a barrel, while Brent crude slipped 0.15% to $60.12 a barrel.
S&P 500 - Risers
Mohawk Inds Inc. (MHK) $184.26 +6.71%
Intuit Inc. (INTU) $96.71 +6.15%
Nordstrom Inc. (JWN) $81.74 +5.96%
Vertex Pharmaceuticals Inc. (VRTX) $118.58 +5.90%
Newmont Mining Corp. (NEM) $25.58 +4.58%
AbbVie Inc (ABBV) $61.30 +3.90%
Laboratory Corporation of America Holdings (LH) $121.08 +3.36%
Public Service Enterprise Group Inc. (PEG) $41.63 +3.35%
Delta Airlines Inc. (DAL) $47.44 +3.31%
Tractor Supply Company (TSCO) $88.12 +2.98%
S&P 500 - Fallers
Avon Products Inc. (AVP) $8.45 -3.21%
Eog Resources Inc. (EOG) $91.08 -2.90%
Nabors Industries Ltd. (NBR) $13.52 -2.73%
Garmin Ltd. (GRMN) $49.42 -2.56%
Peabody Energy Corp. (BTU) $7.66 -2.54%
Cameron International Corp. (CAM) $47.09 -2.48%
Noble Corporation plc (NE) $19.05 -2.36%
Transocean Ltd. (RIG) $17.01 -2.30%
Newfield Exploration Co (NFX) $32.09 -2.10%
Halliburton Co. (HAL) $43.36 -1.99%
Dow Jones I.A - Risers
Boeing Co. (BA) $158.31 +2.97%
Unitedhealth Group Inc. (UNH) $112.62 +2.35%
American Express Co. (AXP) $79.83 +1.82%
Visa Inc. (V) $273.00 +1.45%
Caterpillar Inc. (CAT) $84.44 +1.37%
Nike Inc. (NKE) $94.93 +1.31%
Goldman Sachs Group Inc. (GS) $191.51 +1.27%
Home Depot Inc. (HD) $112.24 +1.17%
Cisco Systems Inc. (CSCO) $29.61 +1.02%
United Technologies Corp. (UTX) $124.11 +0.98%
Dow Jones I.A - Fallers
Johnson & Johnson (JNJ) $100.26 -0.44%
Procter & Gamble Co. (PG) $84.87 -0.40%
Coca-Cola Co. (KO) $41.97 -0.33%
Travelers Company Inc. (TRV) $107.82 -0.16%
International Business Machines Corp. (IBM) $163.65 -0.15%
AT&T Inc. (T) $34.08 -0.03%
McDonald's Corp. (MCD) $94.19 -0.00%
Nasdaq 100 - Risers
Intuit Inc. (INTU) $96.71 +6.15%
Vertex Pharmaceuticals Inc. (VRTX) $118.58 +5.90%
Tractor Supply Company (TSCO) $88.12 +2.98%
Celgene Corp. (CELG) $123.40 +2.66%
Tesla Motors Inc (TSLA) $217.11 +2.55%
Keurig Green Mountain Inc (GMCR) $122.87 +2.15%
Alexion Pharmaceuticals Inc. (ALXN) $186.02 +2.05%
Vodafone Group Plc ADS (VOD) $35.91 +1.96%
Catamaran Corp (CTRX) $52.69 +1.73%
Cognizant Technology Solutions Corp. (CTSH) $63.03 +1.66%
Nasdaq 100 - Fallers
Garmin Ltd. (GRMN) $49.42 -2.56%
Nxp Semiconductors Nv (NXPI) $84.66 -1.18%
Google Inc. (GOOGL) $541.76 -0.86%
Google Inc. Class C (GOOG) $538.90 -0.73%
Regeneron Pharmaceuticals Inc. (REGN) $423.78 -0.66%
Yahoo! Inc. (YHOO) $44.11 -0.59%
Discovery Communications Inc. Class A (DISCA) $30.93 -0.55%
Broadcom Corp. (BRCM) $44.68 -0.49%
Fastenal Co. (FAST) $42.76 -0.45%
Expeditors International Of Washington Inc. (EXPD) $45.51 -0.23%