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Wall Street ended up on Friday, managing to climb into the green despite a sharp decline in financial stocks in the wake of mixed results of the three major banks JPMorgan Chase, Citigroup and Wells Fargo.
Final Nasdaq-based results at the close of the year were 0.03% at 7,825.98 points, a new high.
The Leading Index Dow Jones Industrial Average advanced 0.38% to 25,019.41 points, above the symbolic mark of 25,000 points for the first time since mid-June.
The broad S & P 500 index rose 0 , 11% to 2.801,31 points.
Over the week, the Dow Jones took 2.30%, the Nasdaq 1.79% and the S & P 500 1.50%.
On the occasion of the launch unofficial earnings season Friday, three of the largest US banks announced mixed results for the e 2nd quarter, very good for JPMorgan Chase, more mixed for Citigroup and frankly bad for Wells Fargo.
These results had the effect of pulling back the three banks on Wall Street, JPMorgan Chase losing 0.46%, Citigroup 2 , 20% and Wells Fargo 1.20%.
For JPMorgan Chase "It's a little surprising, the numbers are very good," said Jack Ablin of Cresset Wealth Advisors.
"Investors may be looking at the results (of the banks) as a whole and the sector is not growing as fast as they expected and may not be as robust as it seemed when JPMorgan announced its results first, "he added.
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More generally according to him," investors are now less focused on the trade war and focus on the results upcoming companies "that look robust in the coming weeks.
The session was also marked by the crossing of the symbolic threshold of 2,800 points on the S & P 500 index, under which it had been evolving since early February. This is a very important threshold in the opinion of several badysts.
"Many brokers think it can pave the way for a new record" on the broad index, said Patrick O'Hare of Briefing.
On the economic indicators front, prices of imported products in the United States fell by 0.4% in June, as a result of a sharp decline in fuel oil prices, according to data from the Department of Labor published on Friday.
The bond market was easing: the yield on the US 10-year debt fell to 2.829%, against 2.845% Thursday at the close, and the 30 years declined to 2.927%, against 2.946% at the previous
Among the values of the day, the pharmaceutical group Johnson & Johnson (J & J) fell 1.43% to 125.93 dollars after being sentenced Thursday to pay 4.69 billion dollars in damages in a lawsuit brought by 22 women and their families, who were accused of talc sold by the
Telecommunications giant AT & T fell (-1.74% to 31.67 dollars) after the US Department of Justice appealed Thursday the judgment authorizing its merger with the media group Time Warner.
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