RTX - Deere leads weekly gains in big-cap industrials as Dow index extends streak

2023-07-21 16:54:15 ET

Deere ( DE ) this week rose 5.4% for the biggest gain among stocks in large manufacturers. The Industrial Select Sector SPDR ETF ( NYSEARCA: XLI ), whose holdings include some of the biggest U.S. companies in the sector, edged up by 0.9% for the week.

The Dow Jones Industrial Average ( DJI ) advanced Friday for its 10 ^th straight day of gains, the longest streak in almost six years. For the week, the Dow rose 2.1% while the Standard & Poor’s 500 stock index ( SP500 ) advanced 0.7%.

The Nasdaq Composite ( COMP.IND ) slipped 0.6% for the week, which included a sell-off in Tesla ( TSLA ) shares Thursday after the electric-vehicle maker discussed price cuts in an earnings call.

Lockheed Martin ( LMT ) ended the week with a 2% decline. The defense contractor this week reported quarterly results that beat estimates. The company also said it will deliver fewer F-35s this year than estimated earlier. The Pentagon this month stopped accepting deliveries of the fighter jet until a planned technical upgrade is ready.

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