SPY376.70-4.72 -1.24%
DIA309.58-3.41 -1.09%
IXIC12,723.47-274.28 -2.11%

Stocks Set to Close Higher Friday as Major Indexes Poised for Gains for Week

· 02/05/2021 10:54

03:51 PM EST, 02/05/2021 (MT Newswires) -- Stocks were poised to close slightly higher Friday, while major market indexes were set to post gains for the week.

The Dow Jones Industrial Average was up 0.3% to 31,146.81 while the S&P 500 was up 0.4% to 3,885.64. The Nasdaq Composite Index was up 0.5% to 13,846.73.

Investors mostly shrugged off the bad news in employment data released Friday morning. While nonfarm payrolls expanded in January by 49,000, just shy of the 50,000 consensus, the number of jobs lost in December was revised to show a bigger loss than previously reported, according to Econoday. In December, nonfarm payrolls fell by 227,000, more than the 140,000 originally.

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.