Wall Street ends slightly higher

Credit: Reuters - Business (Amazon FireT
Published on April 18, 2019 - Duration: 01:06s

Wall Street ends slightly higher

Industrials led the S&P 500 and the Dow moderately higher on Thursday in the wake of robust U.S. economic data, healthy corporate earnings reports and two tech IPOs.

Fred Katayama reports.


Wall Street ends slightly higher

A pair of tech IPOs, strong retail sales data and a rally in industrial stocks added some pep to Wall Street Friday, but a slide in energy stocks in a choppy session curbed gains.

The Dow added four-tenths percent, the S&P nearly two-tenths percent.

The Nasdaq ended flat.

Pinterest shares surged 25 percent on their debut on the New York Stock Exchange, giving the scrapbooking website a nearly $16 billion market valuation.

They ended the day up 29 percent.

A&G Capital chief investment officer Hilary Kramer: SOUNDBITE: A&G CAPITAL CHIEF INVESTMENT OFFICER HILARY KRAMER (ENGLISH) SAYING: "I would stay away from Pinterest here especially because the last round valuation before the IPO was really where the stock is trading right now.

That tells us everything we need to know.

I wouldn't go into Pinterest." Zoom Video zoomed even higher on its first day on the Nasdaq.

Shares of the video conferencing software developer opened 80 percent above the IPO price.

Investors got positive news on the economy: Retail sales rose in March by the most in 1-1/2 years.

The number of Americans filing for jobless benefits dropped last week to its lowest level in nearly 50 years.

But the upbeat data didn't deter investors from selling healthcare stocks for a third straight day.

This time, drugmakers like Pfizer and Johnson & Johnson led the declines.

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