Stocks rallied on Friday to finish the week strong after briefly losing the momentum of the January rally.
The Dow Jones Industrial Average added 330.93 points, or 1%, to close at 33,375.49, while the S&P 500 advanced 1.89% to 3,972.61. Both indexes snapped a three-day losing streak. Meanwhile, the Nasdaq Composite rose 2.66%, with help from Netflix and Alphabet, to end the day at 11,140.43.
The Nasdaq was also the outperformer for the week, posting a 0.55% gain and its third positive week in a row. The Dow finished the week lower by 2.70%, and the S&P posted a 0.66% loss, both breaking two-week win streaks.
All of the major averages are still in positive territory for the year.
“We’re having a more emotional reaction that expected,” said Jeff Kilburg, founder and CEO of KKM Financial. “A lot of people got so pessimistic and we saw parabolic moves to kick off the year. Now, as expected, the markets aren’t going in a straight line.”
“We are finding a way to continue to move and have…
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