April 24, 2017
U.S. stocks ended lower on Friday, but posted gains for the week as investors looked ahead to the French election. The Dow Jones Industrial Average declined 0.2% to 20,548, the S&P 500 Index decreased 0.3% to 2,349, and the Nasdaq Composite slipped 0.1% to 5,911. Treasuries finished nearly unchanged, as yield on the 2-year note dipped one basis point to 1.18%, the yield on the 10-year note flat at 2.23% and the 30-year bond rate ticked up a point to 2.89%.
European markets were solidly higher overnight as the market’s favored candidate progressed through to the second round of the French election and sparked a significant unwinding of safe-haven trades. Asian markets ended mixed overnight and domestic equity futures were nearly 1% higher in early trade. On the data front, will see Dallas Fed manufacturing for April, and on the earnings front, Alcoa, Express Scripts, and Whirlpool are among the major companies due to report after the market close.
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