Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market.
The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally Monday that offset all of the benchmark index’s losses from earlier in the month.
Strength in technology, communications and real estate stocks helped reverse much of the market’s early slide. Energy stocks fell the most as crude oil prices closed lower after six straight gains. Bond yields were mixed. Trading was choppy for much of the day ahead of the long holiday weekend. Markets in the U.S. will be closed Monday for Memorial Day.
IBM cuts jobs around U.S. as new CEO looks for revival: IBM told the Wall Street Journal it is laying off an undisclosed number of workers across the U.S. IBM representatives didn’t return numerous calls and emails Friday to confirm the job cuts, which were also reported by Bloomberg.
Amazon India to fill 50K positions: Amazon India is filling nearly 50,000 seasonal positions across its fulfillment and delivery networks to keep up with increased demand. The company said in a blog post Friday that the jobs will include part-time flexible work opportunities as independent contractors with Amazon Flex.
Bed Bath & Beyond to bring back 11K furloughed employees, 600 stores: Bed Bath & Beyond plans to reopen about 600 additional stores within three weeks and bring back 11,000 furloughed workers. The vast majority will be Bed Bath & Beyond locations, but it’s also opening dozens of Christmas Tree Shops and Cost Plus World Market stores.
— Associated Press