A Wobbly Trading Day Sums Up the Week

Dow falls 268 while S&P posts a smaller loss
By Newser Editors and Wire Services
Posted Nov 19, 2021 3:09 PM CST
A Wobbly Trading Day Sums Up the Week
Specialist Patrick King works at his post on the floor of the New York Stock Exchange, Friday, Nov. 19, 2021.   (AP Photo/Richard Drew)

Stocks wobbled in afternoon trading on Wall Street Friday and gave indexes a mixed finish to a choppy week. The Dow fell 268 points to 35,601, the S&P 500 fell 6 points to 4,697, and the Nasdaq rose 63 points to 16,057. Both the S&P and the tech-heavy Nasdaq managed to post gains for the week, while the Dow slipped about 1%, reports CNBC. Technology stocks powered much of the gains in the S&P 500 on Friday, though they were outweighed by losses elsewhere in the market as more than half of the stocks in the index fell, per the AP. TurboTax maker Intuit jumped 9.4% for the biggest gain in the S&P 500 after raising its profit forecast for its fiscal year. Software maker Adobe rose 2.9%.

Several companies that rely on direct consumer spending for goods and services also rose. Tesla was up 3.3% and Nike 2.3%. Moderna jumped 4.6% and Pfizer fell 0.9% after the Food and Drug Administration opened up coronavirus booster shots from the two companies to all adults. It’s been a choppy week for Wall Street as investors reviewed earnings from a range of retailers to essentially close out the latest round of corporate report cards. More than 95% of companies in the S&P 500 have reported their latest quarterly results. Companies have reported overall earnings growth of about 40%, outpacing analysts’ forecasts for 23% growth made back in June.

(More stock market stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.