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MarketWatch MarketPulseMay 24, 2019
Stock market ends higher ahead of Memorial Day holiday, but Dow logs longest weekly skid in 8 years
U.S. stock benchmarks closed out a woeful week for higher on Friday, heading into the Memorial Day holiday. Reports that President Donald Trump may ease restrictions against Huawei Technologies Inc. as part of a bigger trade deal with China, helped to fuel some modest levels of optimism. However, all three major benchmarks finished the week with sizable losses, and the Dow Jones Industrial Average marked its longest weekly losing streak since 2011. The Dow finished Friday trade up 95 points, or 0.4%, at 25,585, the S&P 500 index rose 0.1% to 2,826, while the Nasdaq Composite Index ended up 0.1% at 7,637. For the week, the Dow declined 0.7%, marking its fifth straight weekly slump. The S&P 500 finished the week 1.2% lower, while the Nasdaq closed 2.3% lower for the week. Both the S&P 500 and the Nasdaq marked their third consecutive weekly loss. On the economic front, orders for durable goods fell 2.1% in April, less severe than the 2.4% decline expected by economists polled by MarketWatch. Core durable orders, a key measure of business investment, also declined, by 0.9%, the first decrease in four months. U.S. markets will be closed on Monday for Memorial Day.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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