NEW YORK, April 21 (Xinhua) — U.S. stocks registered slight gains on Friday as U.S. composite purchasing managers’ index (PMI) improved in April.
The Dow Jones Industrial Average rose 22.34 points, or 0.07 percent, to 33,808.96. The S&P 500 added 3.73 points, or 0.09 percent, to 4,133.52. The Nasdaq Composite Index increased 12.90 points, or 0.11 percent, to 12,072.46.
Six of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and consumer staples sectors leading the gainers up 1.2 percent and 0.75 percent, respectively. Meanwhile, materials and energy sectors led the laggards down 0.91 percent and 0.59 percent, respectively.
The S&P Global reported Friday that the U.S. flash composite PMI rose to 53.5 in April, up from 52.3 in March. It came higher than the market expectation of 52.8.
In particular, the U.S. manufacturing PMI improved to 50.4 in April, surpassing economists’ expectation of 49.2. Its services PMI improved to 53.7, surpassing economists’ expectation of 51.5, according to S&P Global.
“The latest survey adds to signs that business activity has regained growth momentum after contracting over the seven months to January,” Chris Williamson, chief business economist at S&P Global Market Intelligence, noted on Friday.
“The S&P 500 initially tried to rally during the course of the week, but we continue to see a lot of resistance above, particularly near the 4,200 level,” noted Christopher Lewis, analyst with market information platform FX Empire.
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