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 percent, reaching its third all-time high in a row. The Nasdaq composite rose 0.4 percent.
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 percent, to 4,719.19.
The Dow Jones Industrial Average rose 56.81 points, or 0.2 percent, to 37,305.16.
The Nasdaq composite rose 52.36 points, or 0.4 percent, to 14,813.92.
The Russell 2000 index of smaller companies fell 15.39 points, or 0.8 percent to 1,985.13.
For the week:
The S&P 500 is up 114.82 points, or 2.5 percent.
The Dow is up 1,057.29 points, or 2.9 percent.
The Nasdaq is up 409.95 points, or 2.8 percent.
The Russell 2000 is up 104.31 points, or 5.5 percent.
For the year:
The S&P 500 is up 879.69 points, or 22.9 percent.
The Dow is up 4,157.91 points, or 12.5 percent.
The Nasdaq is up 4,347.44 points, or 41.5 percent.
The Russell 2000 is up 223.88 points, or 12.7 percent.
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