The Dow Jones Industrial Average continued to rise early Friday, building a good trading week. Indications are in the process of closing the top all week, eliminating the loss of the series for at least seven weeks.
Investors are unveiling new economic data on Friday. The main cost of personal consumption - the Federal Reserve's inflation target - rose 4.9% in April, slower than the March increase by 5.2%, which could indicate inflation. However, as inflation approaches a 40-year high and demand remains high, the Fed is confident that it will continue its path to tightening.
At the time, personal expenditure exceeded 0.9% in April, exceeding expectations, following a 1.4% renewed return in March.
Dow Jones Today
The Dow Jones Industrial Average traded at 1%, while the S&P 500 rose about 1.8%. The small Russell 2000 rose by 1.8%, while the Nasdaq led by a 2.5% gain. The volume was high on the Nasdaq and NYSE vs. at the same time on Thursday, a bullish index. It is good to see stocks rising at a heavy volume, as that reflects institutional purchases.
Thursday's column for The Big Picture commented, "The stock market finished Thursday on a high note that left a combination of the S&P 500 and Nasdaq on track to end a seven-week loss." Market action continues to strengthen after weeks of bearish action.
Lithium manufacturer and Tesla supplier Livent (LTHM) stormed the shopping area earlier on 29.68 this week. Shares continued to grow by 13% as early as Friday, adding to a 6.8% increase in stocks on Thursday. The stock has risen just above the 33.14 entry level of the cup base.
Diamondback Energy Inc (FANG)
The oil and gas sector has shown strength and held a few episodes this week. Another oil and gas stock from the MarketSmith Growth 250 index came out on Friday. Diamondback Energy (FANG) rose above 148.09 entry.
FANG stocks rose more than 13% this week and were rising at a higher volume than usual. The relative strength line gained a new high before it broke out again, a bullish signal. This stock is part of a U.S. group. Oil & Gas Exploration and Production, listed on the N0. 6. The group also saw an outbreak this week from SM Energy (SM) and Northern Oil & Gas (NOG).
Elsewhere, medical stock Eli Lilly (LLY) received a break from the 314.10 flat-base shopping mall. Shares rose 1.9% on Friday and about 6% a week. The RS stock line has also reached new heights this week. The trigger for pre-purchase at 309.54 was also raised on Thursday by a drug giant.
