1. The Dow Jones Industrial Average and the S&P 500 closed at record highs Friday although stocks lost steam late in the day. The three major U.S. benchmark indexes had set all-time intraday highs during the session
2. The Nasdaq snapped an 11-day winning streak.
3. Apple is Real Money’s Stock of the Day. Shares of the tech giant have jumped nearly 84% in 2019.
The Dow Jones Industrial Average and the S&P 500 closed at record highs again Friday as stocks lost stream late in the session.
The Dow finished up 23.87 points, or 0.08%, to 28,645.26. The S&P 500 rose 0.11 points to to 3,240.02. The Nasdaq slipped 0.17% after trading higher earlier Friday, but closed above 9,000 for a second day.
The three major U.S. benchmark indexes set all-time intraday highs during Friday’s session.
Nike (NKE) – Get Report , McDonald’s (MCD) – Get Report and Procter & Gamble (PG) – Get Report led the Dow’s advance.
Stocks in the U.S. closed at all-time highs on Thursday and the Nasdaq traded above 9,000 for the first time. Stocks such as Amazon.com (AMZN) – Get Report, which jumped following a strong holiday shopping season, helped push the indexes higher.
Also fueling Wall Street’s gains this week were comments from Donald Trump that a “phase one” trade agreement with China was “getting done.” The president said he and his Chinese counterpart, Xi Jinping, would hold a signing ceremony, expected sometime in January.
Apple (AAPL) – Get Report is Real Money’s Stock of the Day. Shares of the tech giant have jumped nearly 84% in 2019 and hit all-time highs on Thursday. The stock ended down slightly Friday to $289.80.
Tesla (TSLA) – Get Report confirmed it has received financing of about $1.3 billion from Chinese banks that will be used for its Shanghai car plant.
The plant, Tesla’s first outside of the United States, will help the company reach its goal of producing 1,000 Model 3 sedans each week that will be sold in China, the world’s biggest car market.
Reuters reported Tesla will begin delivering Model 3 vehicles built at its Shanghai factory on Monday, while Bloomberg reported Tesla won exemption from a 10% purchase tax for its China-built Model 3 sedans.
Tesla shares were down slightly Friday to $430.38 after closing Thursday at a record high of $430.94.
Boeing’s Michael Luttig, who began serving as the aerospace giant’s general counsel in 2006, plans to retire next week, just days after CEO Dennis Muilenburg was ousted.
Since May, Luttig has been advising Boeing’s board and handling the company’s legal efforts related to the crashes of two 737 MAX jets that killed 346 people. The MAX has been grounded since mid-March.
Luttig was a close adviser to Muilenburg, who resigned Dec. 23.
Comcast (CMCSA) – Get Report is in advanced talks to acquire video-streaming company Xumo LLC, The Wall Street Journal reported, citing people familiar with the matter.
The report comes as Comcast’s NBCUniversal prepares to launch its own streaming service, Peacock, in April.
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