“The gains on the S & amp; P 500 has the past week been driven by oil prices above 50 dollars per barrel, gains in Asia and Europe, reduced concerns about Brexit and gains in home sales, “said Randy Frederick at the Schwab Center for Financial Research to Market Watch.
Large companies index the Dow Jones Industrial Average was at closing up 0.3 percent to 17,872. The broader index S & amp; P 500 was up 0.4 percent to 2,099, while the technology-heavy Nasdaq Composite was up 0.7 percent to 4,934.
Statistics of the United States GDP rose 0.8 percent annual rate in the first quarter of 2016, according to revised statistics. Analysts had expected a GDP growth revised +0.9 percent, compared with the preliminary outcome of +0.5 percent.
During the Friday evening attended the US Federal Reserve Chairman Janet Yellen at a hearing. Yellen stated that it “probably” is appropriate in a rate hike in the coming months.
Oil prices bounced down during Friday’s trading. During the evening, presented statistics which showed that the active oil and gas rigs decreased by 1 unit in North America during the past week.
Among US companies was announced that Google lost a long-running dispute with Oracle around Java use. Oracle, however, planning to appeal. Google shares Alphabet seen 1.2 percent higher, while Oracle rose 0.3 percent.
Valeant rose 5.5 percent after the Japanese Takeda Pharmaceutial, according to the Financial Times, has made joined forces with private equity firm TPG and made a bid for the ailing company.
Big Lots reported a profit increase of 20 percent for the first quarter compared to last year. While adjusted discount chain up their prospect which caused shares to rush 14.1 percent.
Verizon has reached a tentative agreement with unions representing close to 40,000 workers to end the one month long strike. The share closed 0.9 percent higher on the news.
On Monday keeps US stocks closed the weekend because of Memorial Day.
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