(New York, NY) — Investors ended a three-day losing skid on Wall Street after a terrific retail sales report on Friday, starting the week tomorrow on a positive note. Shoppers spent two-percent more buying goods in September than they did in August. That was more than double what analysts were expecting. The news turned around the pre-market trading and put it in positive territory. Both the Dow Jones Industrial Average and S&P 500 had gains today. However, it was the fourth straight day of declines for the tech-heavy Nasdaq. At the closing bell, the Dow Jones was up 112 points to 28-606. The S&P added a half point to 34-84. The tech-heavy Nasdaq dropped 42 points to 11-671.
GE stock was up more than six-percent Friday. The company announced a deal to provide Saudi Arabia with some mobile gas turbine generators for three of the country’s power plan. Many banks are bullish on industrial sector stocks. That’s one reason Caterpillar was up more than two-percent today. Zoom Video continues to soar, gaining another four-percent. The company announced a plan to host paid events online and investors obviously like a new revenue source. J.B. Hunt’s stocks dropped nearly ten-percent after it missed on profits last quarter.
Ken Sain Copyright © 2020 TTWN Media Networks Inc.
