Wall Street ended mostly higher Friday after a wobbly day of trading. Trading was subdued ahead of the Memorial Day holiday in the U.S.
Despite the uneven finish, major indexes each notched a weekly gain of more than 3%. Strength in technology, communications and real estate stocks helped reverse much of the market’s early slide. Energy stocks fell the most as crude oil prices closed lower after six straight gains.
Small-company stocks did more than twice as well as the rest of the market this week, a bullish signal suggesting that investors expect the economy is on the path to recovery.
The S&P 500 rose 6.94 points, or 0.2%, to 2,955.45.
The Dow Jones Industrial Average slipped 8.96 points, or less than 0.1%, to 24,465.16.
The Nasdaq composite added 39.71 points, or 0.4%, to 9,324.59.
The Russell 2000 index of small company stocks gained 7.97 points, or 0.6%, to 1,355.53.
For the week:
The S&P 500 rose 91.75 points, or 3.2%.
The Dow gained 779.74 points, or 3.3%.
The Nasdaq climbed 310.03 points, or 3.4%
The Russell 2000 picked up 98.54 points, or 7.8%.
For the year:
The S&P 500 is down 275.33 points, or 8.5%.
The Dow is down 4,073.28 points, or 14.3%.
The Nasdaq is up 351.98 points, or 3.9%
The Russell 2000 is down 312.94 points, or 18.8%.
6 Stocks to Help You Profit Off the Coronavirus PPE Boom
Every major global event brings with it changes to our national lexicon. Before the Covid-19 pandemic, few Americans knew what the initials PPE stood for. Today, virtually anyone knows that PPE stands for personal protective equipment.
At the onset of the mitigation policies, the goal of flattening the curve was being done to prevent our health care system from becoming overwhelmed. Part of that concern stemmed from a shortage of personal protective equipment. These are the masks, gloves, goggles and gowns that help protect medical workers against viral or bacterial infections.
As the novel coronavirus became labeled a global pandemic, the global mantra became to “flatten the curve” in an effort to prevent our healthcare system from being overwhelmed.
The United States is being referred to as being on a war time footing. Manufacturers that were already producing PPE have significantly ramped up capacity. And many companies are converting their excess manufacturing capacity to produce personal protective equipment.
In fairness, this may only be a reason for some of these companies to “keep the lights on” right now. But many of these companies have a good story to tell. And it’s that story that can make them solid investments in the future.
View the "6 Stocks to Help You Profit Off the Coronavirus PPE Boom".