Stocks ended a relatively quiet week in solid fashion on Friday. At the close, the Dow Jones Industrial Average gained 54 points; the NASDAQ rose 25 points; and the S&P 500 climbed 10 points. Market breadth was more favorable than the major averages suggested, with winners nearly doubling up declining issues on both the New York Stock Exchange and the NASDAQ.
General Electric, an industrial conglomerate that is in the process of pivoting back to its industrial roots and selling off its financial-related holdings, has reported June-period results that depicted a solid overall showing. But with the stock trading at lofty levels heading into the release, investors chose to take profits following the earnings announcement.
Shares of Visa were little changed in the premarket after the electronic payments processor reported decent June-quarter results.