Stock Market Today: Live Updates

of Dow Jones Industrial Average Although he dropped in the standings on Friday, he had his best week of the year after a series of record-breaking sessions.

The Dow Jones Industrial Average fell 200 points (0.5%).of S&P500 Hovering near the flat line, Nasdaq Composite Added 0.2%.

All three major averages posted healthy gains this week, with the S&P 500 up 2.4% and the Dow on track for a 2.2% gain, its best week since December. The Nasdaq was the best performer of the three, rising about 3%.

Keith Lerner, Trust’s co-chief investment officer, said Friday’s move was “a period of convergence after a very strong week.” “We view the overall trend as still positive for the market, especially seeing as this new high break continues on a five-month upward trajectory.”

One reason for market optimism stems from this week’s Federal Reserve meeting. The central bank kept interest rates on hold, and comments from Federal Reserve Chairman Jerome Powell underscored that the rate cuts come despite recent rises in inflation that had some investors concerned that the easing schedule would be delayed.

“That was enough to move this market forward,” Lerner said.

fedex Shares rose more than 6% after posting adjusted profit that exceeded analysts’ expectations. Nike Shares fell 6% after a disappointing outlook and slowing sales in China. lululemon The stock fell 15% on weak guidance and slowing growth in North America, its worst day since March 2020.

Major indexes closed at record levels for the second day in a row on Thursday, hitting new intraday highs. Thursday was the fourth straight day of wins for all three indexes, with the Dow Jones Industrial Average ending near 40,000.