Stocks Gain as Economy, Earnings Strengthen
NEW YORK (TheStreet) -- Major U.S. stock averages gained Friday as investors tracked the European markets and got a boost from better-than-expected trade data and earnings reports. Apple(AAPL) shares tacked on 1.4% to $474.98.
Weather alerts also were in focus, as the National Weather Service warned that the Northeast and New England are expected to be hurt by a major winter storm Friday and into Saturday. As much as one to two feet of snow is forecast for the New York City metro area to Maine.
The Dow Jones Industrial Average rose 49 points, or 0.35%, at 13,993. The gains weren't enough to boost the blue-chip index into positive territory as it fell 0.12% on the week.
Boeing shares fell 1.1% as Reuters reported the aerospace giant told two European airlines on Friday that their deliveries of 787 Dreamliner jets would be delayed, as safety investigations into the aircraft continued.
Joe Bell, senior equity analyst with Schaeffer's Investment Research, said with the snowstorm set to hit several states, "we could be in for lighter trading than we normally see on option expiration weeks."
"As the broad markets attempt to break free of this recent congestion, the recent volatility in Europe and retail sales could steal the headlines" next week, Bell added.
Any dips in the markets wouldn't surprise Bell. "After a strong rally to start the year and the S&P 500 near the round number 1,500, it was a logical time for a breather," he said.