The major averages slipped on Friday as investors took profits amid a flurry of earnings results and a robust profit beat from e-commerce giant Amazon.
The Dow Jones Industrials tumbled 185.51 points to close Friday and the week at 33,874.85. The weekly loss for the 30-stock index was 168 points, or nearly 0.5%.
The S&P 500 lost 30.3 points from Thursday’s all-time high at 4,181.17. The broader index took on one point on the week.
The NASDAQ Composite dropped 119.86 points to 13,962.68. The tech-heavy NASDAQ lost 54 points, or 0.39% on the week.
Despite Friday’s weakness in equities, the S&P 500 notched its third straight month of gains in April, adding more than 5% to the index as investors bet on a big economic and profit recovery from the pandemic.
The S&P 500 is now up 11% for the year. The benchmark closed at record levels on Thursday on … Read more