Indices kicked off the week on a positive note Monday as Technology stocks led the advance on a variety of economic news. Strong quarterly earnings coupled with Friday’s positive employment report have boosted investor confidence in continuing economic growth. Markets closed mixed moves on Tuesday. After flat trading most of the day, the Dow Jones Industrial Average and NASDAQ Composite tacked on fractional gains while the S&P 500 index shaved a few points. According to the Producer Price Index, prices moved very little in April, up a scant 0.1% over March, when prices jumped 0.3%. In fact, the bump in prices is attributable to a 0.1% rise in the prices producers got for services—prices for goods were unchanged in April. Stocks were back in positive territory mid-week with energy brands posting gains on a jump in crude oil prices. West Texas Intermediate crude tacked on 3.1% to settle at $71.14 a barrel. The good news continued Thursday as stocks advanced on a variety of economic news. Department of Labor data showed initial jobless claims held steady at 211,000 new claims for the second week straight. However, the Consumer Price Index rose 0.2% in April, versus a forecast for a 0.3% gain. Core prices edged up 0.1% following a 0.2% rise for the previous two months. At Friday’s close, the weekly gains were enough to push each of the indices into the black year-to-date. Furthermore, it marked the first time April 13 that the major indices had posted weekly gains exceeding 1.0%.
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