The US stock market finished session lower on Friday, 30 April 2021, as investors elected to profit profit taking after the upward move seen on Thursday lifted the S&P 500 to a new record closing high. At the close of trade, the Dow Jones Industrial Average index declined 185.51 points, or 0.54%, to 33,875. The S&P 500 index was down 30.30 points, or 0.72%, at 4,181. The tech-heavy Nasdaq Composite Index fell 119.86 points, or 0.85%, to 13,963. For the month, the S&P 500 added 5.2%.
The Dow rose 2.7%, and the Nasdaq climbed 5.4%.
ECONOMIC NEWS: US Consumer Sentiment Accelerates In April-US consumer sentiment index for April was upwardly revised to 88.3 from a preliminary reading of 86.5, according to revised data released by the University of Michigan on Friday. The consumer sentiment index rose from 84.9 in March to reach its highest level since hitting 89.1 in March of 2020. The report showed the current economic conditions index climbed to 97.2 in April from 93.0 in March, while the index of consumer expectations rose to 82.7 from 79.7.
Chicago MNI Business Barometer Surges To Highest Level Since 1983-Chicago-area business activity unexpectedly saw faster growth in the month of April, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago business barometer jumped to 72.1 in April from 66.3 in March, with a reading above 50 indicating growth. With the unexpected increase, the Chicago business barometer reached its highest level since December of 1983. The advance by the headline index came as the new orders index climbed by 9.9 points to a nearly seven-year high, while the production index up by 0.9 points to its highest level since January of 2018.
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