How major US stock indexes fared Friday 5/5/2023

Apple was at the head of a widespread rally on Wall Street after the stock market’s most influential company reported a better profit than expected.

Stocks of beaten-down banks also leapt Friday to recover a smidgen of their sharp losses from a brutal week. The S&P 500 rose 1.8%. The Dow Jones Industrial Average rose nearly 550 points and the Nasdaq composite tacked on 2.2%.

Treasury yields jumped in the bond market after a report showed hiring accelerated across the economy by much more than expected last month. The government’s jobs report also showed workers won bigger pay raises than expected.

On Friday:

The S&P 500 rose 75.03 points, or 1.8%, to 4,136.25.

The Dow Jones Industrial Average rose 546.64 points, or 1.7%, to 33,674.38.

The Nasdaq composite rose 269.01 points, or 2.2% to 12,235.41.

The Russell 2000 index of smaller companies rose 41.07 points, or 2.4%, to 1,759.88.

For the week:

The S&P 500 is down 33.23 points, or 0.8%.

The Dow is down 423.78 points, or 1.2%.

The Nasdaq is up 8.83 points, or 0.1%.

The Russell 2000 is down 9.11 points, or 0.5%.

For the year:

The S&P 500 is up 296.75 points, or 7.7%.

The Dow is up 527.13 points, or 1.6%.

The Nasdaq is up 1,768.93 points, or 16.9%.

The Russell 2000 is down 1.37 points, or 0.1%.