04:45 PM EDT, 05/10/2024 (MT Newswires) -- US equity indexes rose this week as surging jobless claims and quarterly earnings helped extend gains.

* The Dow Jones Industrial Average rose to 39,512.84 on Friday from 38,675.68 a week ago. The S&P 500 ended at 5,222.68, climbing from 5,127.79, and the Nasdaq closed at 16,340.87 compared with 16,156.33 a week prior. All three indexes rose last week after soft labor market data helped boost expectations for a cut in interest rates.

* On Thursday, US initial jobless claims rose to 231,000 in the week ended May 4 from an upwardly revised 209,000, compared with expectations for 212,000 in a survey compiled by Bloomberg. The four-week moving average rose to 215,000 from 210,250, building confidence policy easing could begin soon.

* On Friday, the University of Michigan's preliminary consumer sentiment index declined to 67.4 in May from 77.2 in April, compared with forecasts for a decline to 76.2 in a survey compiled by Bloomberg.

* The probability of the Fed cutting rates by 25 basis points in September stood at almost 50% according to the CME Group's FedWatch Tool late Friday.

* Atlanta Fed President Raphael Bostic (voter) told Reuters that he is hopeful that the central bank can cut rates this year and sees an easing in inflation as businesses report that their pricing power is limited. Dallas Fed President Lorie Logan (non-voter) said it is "too soon" to consider lowering interest rates due to upside risks to inflation, Reuters said in a separate report.

* Mettler-Toledo International ( MTD ) reported on Friday Q1 adjusted earnings and revenue that topped estimates and revised up full-year 2024 earnings expectations. Its shares surged 17%, the top performer in the S&P 500. On the same day, Gen Digital's ( GEN ) shares soared 15%, the second-biggest gainer in the index, after the company reported an increase in fiscal Q4 adjusted earnings and revenue.