(Reuters) – Wall Street rallied on Friday, led higher by Apple and Microsoft as investors finished a turbulent week of trading and some states prepared to relax coronavirus-related lockdowns.
FILE PHOTO: A man crosses a nearly deserted Nassau Street in front of the New York Stock Exchange (NYSE) in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 3, 2020. REUTERS/Mike Segar
Apple (AAPL.O) and Microsoft (MSFT.O) each climbed more than 1%, lifting the S&P 500 more than any other companies. The two tech titans are on tap to report their March-quarter results next week, giving investors a glimpse at how the pandemic has affected their global businesses.
Boeing Co (BA.N) tumbled more than 6% after a report the planemaker was planning to cut 787 Dreamliner output by about half.
All of the 11 S&P 500 sector indexes moved up, with information technology .SPLRCT jumping 2.1% and materials .SPLRCM rallying 1.5%.
Even with Friday’s gains, the S&P 500 ended the week lower, with investors fearful of a deep economic slump following a near-crash in April business activity and weekly jobless claims topping 26 million in five weeks.
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