Dow Ends Week On Positive Note – Acadiana Business Index
Earnings reports from Microsoft and GE pushed blue chips to their first weekly gain this month as the Dow Jones Industrial Average added 65 points. Mark Lasseigne has your stock market report on Friday's Acadiana Business Index.
- Microsoft rallied 4.6% to lead the blue chips' advance after the software company reported quarterly results that exceeded both revenue and earnings expectations.
- Fellow Dow component General Electric gained 1.2% after the conglomerate reported first-quarter results that topped forecasts
- But, technology stocks lagged behind. Shares of Apple fell 2.5%, contributing to declines in the tech-heavy Nasdaq Composite. Apple, which represents 12% of the Nasdaq's weight. The stock is down 12% since its all-time intraday high on April 10.
- Oil-field-services company Schlumberger climbed 2.7%. Earnings rose 38% as the shift of rigs and services to liquids-rich basins continued to drive revenue growth.
- Crude-oil settled at 103.05 a barrel
- And, gold closed at $1,642 an ounce.