Stocks continued to be seemingly unstoppable on Friday as the major indexes climbed to new highs again. At least one of the major indexes closed every day this week at a record.
First, the scoreboard:
- Dow: 19,751.62, +136.81, (0.70%)
- S&P 500: 2,259.49, +13.30, (0.59%)
- Nasdaq: 5,442.49, +25.13, (0.46%)
- 10-year yield: 2.469%, +0.080
- President-elect Donald Trump is set to pick Goldman Sachs’ Gary Cohn as the National Economic Council director, according to multiple reports. Cohn is the president and chief operating officer of the Wall Street firm, and he trails only CEO Lloyd Blankfein in stature. The president-elect was highly critical of Wall Street throughout his campaign.
- Muhtar Kent will step down as CEO of Coca-Cola effective May 1,according to a release from the company. He will be replaced by the company’s COO, James Quincey. The shift comes as Coca-Cola and other soda manufacturers face pressures from health-focused consumers.
- The US oil rig count jumped this week by 21 to 498, the biggest increase since July 2015 according to driller Baker Hughes. US oilfield services companies have seen stronger demand from producers amid stabilizing oil prices.
- More consumers than ever before are bullish on the US economy after President-elect Donald Trump’s surprise win, according to the University of Michigan. The semimonthly consumer-sentiment index released Friday unexpectedly spiked to 98, the highest since January 2015.