S&P Has Another Weekly Gain on 'Muted' Day

But the Dow fell 62 points
By Newser Editors,  Newser Staff
Posted Jul 17, 2020 3:06 PM CDT
S&P Has Another Weekly Gain on 'Muted' Day
In this June 16, 2020 file photo, a sign for a Wall Street building is shown in New York.   (AP Photo/Mark Lennihan, File)

"Muted" and "meandering" are two words used by the AP to describe Friday's stock market trading. And when all was said and done, the major indexes saw mixed results: The Dow fell 62 points to 26,671, the S&P 500 ticked up 9 points to 3,224, and the Nasdaq rose 29 points to 10,503. For the benchmark S&P, that marks the third straight weekly gain. All this as investors weighed reports about rising coronavirus cases.

“I don’t see us reaching the height of the market back in February anytime in the next few months,” Luis Strohmeier of Octavia Wealth Advisors tells the Wall Street Journal. “I think that the trading range that you see now is probably here to stay as long as, again, we’re not getting worse from the opening of the economy.” Of note Friday: Netflix had a bad day, with shares down 7% on the prospect of slower growth in subscribers. (Read more stock market stories.)

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