Wall Street closed out its longest weekly winning streak in six years after big gains earlier in the week on hopes for lower interest rates in the U.S.
The S&P 500 ended an up-and-down day little changed Friday. It still posted a solid gain for the week and its seventh straight weekly gain. The Dow added 0.2%, reaching its third all-time high in a row. The Nasdaq composite rose 0.4%.
Hopes for cuts to interest rates from the Federal Reserve in 2024 have sent Treasury yields tumbling this week, which releases pressure on the stock market.
On Friday:
The S&P 500 fell 0.36 points, or less than 0.1%, to 4,719.19
The Dow Jones Industrial Average rose 56.81 points, or 0.2%, to 37,305.16.
The Nasdaq composite rose 52.36 points, or 0.4%, to 14,813.92.
The Russell 2000 index of smaller companies fell 15.39 points, or 0.8% to 1,985.13.
For the week:
The S&P 500 is up 114.82 points, or 2.5%.
The Dow is up 1,057.29 points, or 2.9%.
The Nasdaq is up 409.95 points, or 2.8%.
The Russell 2000 is up 104.31 points, or 5.5%.
For the year:
The S&P 500 is up 879.69 points, or 22.9%.
The Dow is up 4,157.91 points, or 12.5%.
The Nasdaq is up 4,347.44 points, or 41.5%.
The Russell 2000 is up 223.88 points, or 12.7%.
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