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Stocks moved higher Friday as investors analyzed earnings reports from Apple and other well-known companies, alongside the release of a closely followed inflation report.
The Dow Jones Industrials ditched 24.17 points to 44,857.96, weighed down by a decline in Chevron
The S&P 500 index gained 35.85 points to 6,107.02
The NASDAQ Composite bounced 221.64 points, or 1.1%, to 19,903.39.
Investors honed in on Apple, which saw shares rise 1% after the company exceeded fiscal first-quarter expectations. While Apple reported disappointing sales tied to the iPhone, services revenue appeared to take the spotlight. Shares of Chevron and Exxon Mobil respectively dipped 4% and 1% on the back of disappointing fourth-quarter results.
The December data for the personal consumption expenditures price index — the Federal Reserve’s preferred inflation gauge — showed an increase of 0.3% from November and a 2.6% annual rate. While this yearly advance was in line with economists’ expectations, it marked an acceleration from the prior month’s rate of 2.4% — raising some concerns that inflation remains sticky. Excluding food and energy, core PCE also increased 0.2% monthly and 2.8% on an annual basis.
Friday’s action follows a winning — but volatile — trading session for the three major indexes. Technology has been a major focus of investors this week given Monday’s big sell-off sparked by developments out of China’s DeepSeek artificial intelligence startup and earnings reports from key players over recent days.
After tumbling 3.07% on Monday, the NASDAQ Composite has since clawed back most of its losses and was last down marginally on the week. The S&P 500 and blue-chip Dow are poised to finish the week 0.1% and 1% higher, respectively. Nvidia, which plunged nearly 17% on Monday, has since trimmed its weekly losses to about 12%.
Friday also marks the last day of what has been a rocky January for traders. Nevertheless, the three major averages are on pace for monthly gains, with the S&P 500 up 3.9% and the NASDAQ on pace for a 3.1% advance. The Dow outperformed in the period, on track for a 5.5% jump.
Prices for the 10-year Treasury faded, raising yields to Thursday’s 4.52%. Treasury prices and yields move in opposite directions.
Oil prices nicked 10 cents to $72.83 U.S. a barrel.
Prices for gold jumped $4.40 an ounce to $2,849.60 U.S.
