US markets made a mixed closing on Friday after a lackluster trade, though all three major averages finished in positive territory for the week. Trade turned a bit cautious as the Department of Commerce reported that first quarter gross domestic product increased just 2.5 percent; lower than expectations for at least 3.0 percent. Also, consumer sentiment eased in April to 76.4 from 78.6 in March, according to the Thomson Reuters/University of Michigan's final reading on the overall index as Americans remained concerned about their employment and financial prospects. There were few better than expected earnings announcement that helped the Dow end in positive territory. Chevron reported earnings that beat expectations; Amazon.com too posted earnings that exceeded Wall Street expectations.
Raw-materials producers fell the most after Alcoa Inc., the largest aluminum producer in the US had its credit rating outlook revised to negative by S&P Ratings Service after a slump in the price of the metal. However, Energy stocks pared losses as Chevron Corp, the world’s third-biggest energy company by market value reported better than expected first-quarter profit.
The Dow Jones Industrial Average gained 14.75 points, or 0.08 percent, to close at 14,712.55, while the S&P 500 slipped 2.92 points, or 0.18 percent, to end at 1,582.24 and the Nasdaq dropped 10.73 points, or 0.33 percent, to 3,279.26.
Most of the Indian ADRs closed lower on Friday, HDFC Bank was down by 0.22%, ICICI Bank down by 0.63%, Infosys was down by 0.76%, Tata Motors was down 0.15% and Wipro was down by 0.07%.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: