Dow ends best week in a year amid pre-earn­ings trad­ing lull

Austin American-Statesman - - BUSINESS -

The Dow ended its best week in a year with an­other gain Fri­day as in­vestors placed their last bets be­fore the start of sec­ond-quar­ter earn­ings re­ports.

The Dow Jones in­dus­trial av­er­age rose 59 points, or 0.6 per­cent. That gave the Dow its biggest weekly ad­vance in a year, 5.3 per­cent. Broader in­dexes posted big­ger gains. Trad­ing vol­ume was light, sig­nal­ing that many in­vestors were stay­ing out of the mar­ket. But those who were trad­ing ap­peared op­ti­mistic about the com­pany re­ports that will be an­nounced start­ing next week.

Fri­day’s mod­est moves weren’t sur­pris­ing. Traders usu­ally avoid mak­ing big bets in the days be­fore earn­ings re­ports be­cause the data pro­vide a good pic­ture of how those com­pa­nies are per­form­ing. Google Inc., In­tel Corp., Bank of Amer­ica Corp., Gen­eral Elec­tric Co. and Ad­vanced Mi­cro De­vices Inc. are among the com­pa­nies due to re­port next week.

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