Stocks closed out the trading week with a bang as tech and financials led a strong finish. The Dow Jones Industrial Average rallied over 150 points, up six of the last seven days. The S&P 500 and the Nasdaq were also higher at the closing bell. All three benchmark indexes snagged new records for intraday prices, and the S&P and Dow traded with gains for the week.
Shares of railway company CSX (CSX) dipped Friday after the company announced CEO Hunter Harrison is taking a medical leave of absence. Harrison, who is 73, will take time off to manage complications from a recent illness. Former operating chief Jim Foote will take over as acting CEO while Harrison is out.
Oracle (ORCL) stock tumbled after the enterprise software company issued guidance about its cloud-computing business that disappointed inventors. Oracle said total cloud revenue in the second quarter rose 44% to $1.52 billion, missing estimates. Oracle forecast that its total cloud app and service revenue in the third quarter would only rise 21% to 25%, well below a consensus for cloud revenue to rise 42% to $1.69 billion.
And bitcoin was at it again Friday as prices flirted with $18,000. In the last month, the price of the darling cryptocurrency have rallied over 130%.
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