Big Tech stocks carried Wall Street to another record high, even as many stocks fell amid worries about the downside of a too-hot economy.
Big gains for Meta Platforms and Amazon pushed the S&P 500 index up 1.1% Friday. They also vaulted the Nasdaq composite up by 1.7%. The Dow Jones Industrial Average rose a more modest 0.3%, and more stocks fell overall on Wall Street than rose.
A strong jobs report pushed traders to further delay expectations for when the Federal Reserve may deliver the cuts to interest rates they desire. Treasury yields rose in the bond market.
On Friday:
The S&P 500 rose 52.42 points, or 1.1%, to 4,958.61.
The Dow Jones Industrial Average rose 134.58 points, or 0.3%, to 38,654.42.
The Nasdaq composite rose 267.31 points, or 1.7%, to 15,628.95.
The Russell 2000 index of smaller companies fell 11.69 points, or 0.6%, to 1,962.73.
For the week:
The S&P 500 is up 67.64 points, or 1.4%.
The Dow is up 544.99 points, or 1.4%.
The Nasdaq is up 173.59 points, or 1.1%.
The Russell 2000 is down 15.60 points, or 0.8%.
For the year:
The S&P 500 is up 188.78 points, or 4%.
The Dow is up 964.88 points, or 2.6%.
The Nasdaq is up 617.60 points, or 4.1%.
The Russell 2000 is down 64.34 points, or 3.2%.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for January 2025. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
