Dow Jones gains over 300 points, trims weekly loss

US equities enhanced their gains on Friday, as markets assessed data that showed better-than-expected improvement in the manufacturing sector, which revived hopes for “soft landing” with inflation moving lower with no economic recession. 

The Dow Jones Industrial Average added nearly 0.8%, or 339 points, to 42,732, reducing its weekly losses to 0.6%.

The S&P 500 jumped about 73 points, or 1.25%, to 5,942, but shed 0.5% during the week.

The Nasdaq Composite Index leapt 340 points, or 1.75%, to end at 19,621, but declined 0.5% during the week.  

As for the European indices, STOXX Europe 600 fell 0.5% to 508.19 points, but recorded a slight weekly rise of 0.2%.   

FTSE 100 eased 0.45% to 8,223 points. Similarly, CAC 40 dropped 1.50% to 7,282 points, while the Dax Index lost 0.60% to 19,906 points.

In Japan, markets were closed on an official holiday, celebrating the new year.

The prices of Brent crude oil futures for March 2025 delivery rose 0.75% or 58 cents, to $76.51 a barrel, rising 3.7% during the week.

Meanwhile, prices of WTI crude oil futures for February 2025 delivery advanced 1.15%, or 83 cents, to $73.96 a barrel, posting a weekly gain of 4.75%.

As for gold, futures prices for February 2025 delivery declined 0.55% or $14.3 to $2,654.7 per ounce, with a weekly rise of 0.85%.

Elsewhere, the US ISM Manufacturing PMI increased to 49.3 in December 2024, the highest reading since March, from 48.4 in November, exceeding expectations for 48.2 points.