Key Takeaways
The Dow, S&P 500 and Nasdaq were little changed as of midday Friday, as the major stock indexes closed out a week of gains. Shares of tax preparation company H&R Block surged a day after it reported better-than-expected fourth-quarter results. Shares of Madison Square Garden Entertainment hit a record high after the owner of Madison Square Garden posted an unexpected profit.
The Dow, S&P 500 and Nasdaq were little changed as of midday Friday, as the week drew to a close with better-than-expected retail sales and labor market data sending the major stock indexes higher.
Shares of tax preparation company H&R Block (HRB) soared a day after the company reported better-than-expected fourth-quarter earnings and announced a dividend increase and a $1.5 billion share repurchase program.
Shares of Madison Square Garden Entertainment (MSGE) hit a record high after the owner of Madison Square Garden reported unexpected profits from sporting events and increased sales of food, beverages and merchandise.
Shares of Ulta Beauty (ULTA) added to their gains yesterday after Warren Buffett’s Berkshire Hathaway (BRK.A) revealed a stake in the beauty store chain, and Tapestry (TPR) also extended its gains after reporting better-than-expected earnings on strong European demand.
Amcor (AMCR) was the worst-performing stock in the S&P 500. The packaging company missed earnings expectations and issued weak guidance as volumes at its healthcare and North American beverage companies continued to be weak.
Pfizer (PFE) shares and BioNTech (BNTX) American depositary receipts (ADRs) fell after the drugmaker’s clinical trial results for a combination COVID-19 and flu vaccine were disappointing.
Gold futures rose to a record high. Oil futures fell, 10-year Treasury yields dropped, the US dollar fell against the euro, pound and yen, and most major cryptocurrencies traded in negative territory.
Trading View
Update—August 16, 2024: This article has been updated to reflect that gold futures have hit record highs.