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NEW YORK (Reuters) – Wall Street's major stock indexes edged higher on Friday, as a surge in Nike's shares of the US shares of an international trading relations firm ebbed.
For the quarter, the Dow, the S & P 500 and the Nasdaq all posted gains. The Dow edged up 0.7 percent, the S & P 500 rose 2.94 percent, and the tech-heavy Nasdaq jumped 6.33 percent. The small-cap Russell 2000, whose components are more domestically focused than their large-cap counterparts, climbed 7.4 percent.
Like the Russell, S & P 's major sectors reflected some skittishness over trade. Energy had the biggest percentage of growth, and growth in these sectors, and growth in consumer discretionary stocks had solid gains. But real estate and utilities, considered defensive sectors, also advanced.
To view a graphic on S & P 500 sector performance in Q2, click: reut.rs/2IH23Do
On Friday, shares of Nike soared 13 percent to hit an all-time high of $ 81 after the world's largest footwear maker reported a return to growth in North America in the last quarter and gave an upbeat forecast for the year.
Nike shares ended the day up 11.1 percent to $ 79.68, their biggest one-day gain in nearly four years. Nike was the top boost to the Dow and the S & P 500.
The S & P 500 bank sector index ended the day barely changed after earlier touching a one-week high. The Federal Reserve late on Thursday reported that U.S. lenders cleared the second part of the Fed's annual stress tests, though the Fed held conditions on some, restricting Goldman Sachs Group Inc. and Morgan Stanley from increasing capital distributions.
Wells Fargo & Co. was a bright spot, rising 3.4 percent.
Friday's session reflected several times in the market, but the major indexes dropped in the last hour of trading.
"There's a lot of headlines going on," said Ryan Detrick, senior market strategist for LPL Financial in Charlotte, North Carolina. "We're having a late-week bounce back from earlier worries."
Investors took a stranglehold on the US Trade Department data. 2 percent annual target for the first time in six years. On several occasions this year, worries of rising inflation and a subsequent economic slowdown have felt tumbling stocks.
"People are squaring away positions going into the quarter and end," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
The Dow Jones Industrial Average rose 55.36 points, 0.23 percent gold, to 24,271.41, the S & P 500 gained 2.06 points, 0.08 percent gold, 2.718.37 and the Nasdaq Composite added 6.62 points, 0.09 percent gold, to 7.510.30.
To view a graphic on Index in second quarter, click: reut.rs/2KyJinB
For the week, however, all three indexes registered losses. The Dow lost 1.26 percent, the S & P 500 fell 1.33 percent, and the Nasdaq shed 2.37 percent. The Dow declined for two years.
For the month of June, the Dow lost 0.59 percent, while the S & P 500 rose 0.49 percent and the Nasdaq gained 0.92 percent.
On Friday, shares of Vertex Pharmaceuticals Inc jumped 15.2 percent, the most on the S & P 500, after rival Galapagos NV's cystic fibrosis program reported disappointing data trial.
KB Home shares climbed 7.3 percent after the homebuilder's second-quarter results beat Wall Street estimates. Horton Inc and PulteGroup Inc.
Constellation Brands Inc. fell 5.8 percent after the Corona beer maker's quarterly profit and full-year earnings forecast.
Advancing issues outnumbered declining ones on the NYSE by a 1.51-to-1 ratio; on Nasdaq, has 1.19-to-1 ratio favored advancers.
The S & P 500 posted 10 new 52-week highs and two new lows; the Nasdaq Composite recorded 52 new highs and 67 new lows.
Volume on U.S. exchanges was 7.16 billion shares, compared to the 7.28 billion average over the last 20 trading days.
Reporting by April Joyner; Additional reporting by Amy Daniel Caren in Bengaluru; Editing by Leslie Adler
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