S&P 500 off for the day, rises for week, Nasdaq squeaks record
Nasdaq gains slightly, S&P 500 falls 0.04%, Dow off 0.15%
Industrials weakest S&P 500 sector; Comm Svcs leads gainers
Dollar up; gold adds >1%; crude edges down; bitcoin off >1
U.S. 10-Year Treasury yield edges down to ~4.22%
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S&P 500 OFF FOR THE DAY, RISES FOR WEEK, NASDAQ SQUEAKS RECORD
The S&P 500 .SPX closed slightly lower on Friday, taking a little break ahead of the weekend after not only gaining but posting record closing highs every other day this week.
Nasdaq .IXIC managed a tiny gain for Friday's session marking its fifth straight closing record high in a row marking the first time it had such a run since an 8-day stretch of closing records between Oct 28 and Nov 8 in 2021.
In contrast, the Dow Industrials .DJI had started the week with a gain before falling for the final four days.
Still, thanks to the work it did before Friday, the S&P still managed a ~1.6% gain for the week while the Nasdaq showed an 3.2% weekly advance. The Dow, however, fell 0.5% for the week.
Among the S&P 500's 11 major industry sectors, only three advanced on Friday. Communication services .SPLRCT rose ~0.6% while technology .SPLRCT added 0.5%. Consumer staples .SPLRCS was virtually unchanged adding 0.01%.
For the week, tech was by far the biggest sector gainer adding more than 6%, while energy .SPNY was the biggest decliner falling more than 2%.
In individual stocks, Adobe ADBE.O was the stand out with an 14.5% gain after its results and guidance impressed.
Nvidia NVDA.O also gained 1.8%, proving a strong boost to the Nasdaq and the S&P 500.
And Broadcom AVGO.O advanced another 3.3% after already rising 12.3% in Thursday's session after its quarterly update.
Here is your closing snapshot:
(Sinéad Carew, Terence Gabriel)
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FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
RESTAURANT INFLATION MAY HAVE KEY INGREDIENTS FOR RATE HOPES - CLICK HERE
INDIVIDUAL INVESTOR BEARS FLEE, BULLS FLY - AAII - CLICK HERE
EUROPEAN MARKETS END WEEK WITH BROKEN BONES: IS THE PARTY OVER? - CLICK HERE
FRIDAY DATA: CONSUMERS GROW GRUMPIER, TRADE PRICES COOL - CLICK HERE
S&P 500, NASDAQ LOOK TO TAKE A BREATHER FROM THE RALLYING - CLICK HERE
BREADTH CHECK HAS NASDAQ, S&P 500 WHEEZING - CLICK HERE
M&A ACTIVITY: REBOUNDING AND STILL FRIENDLY - GS - CLICK HERE
NOT YET TIME TO BUY THE DIP - CLICK HERE
TECH STOCKS STILL PROPPING UP MARKETS - CLICK HERE
OATs SPILLOVER EFFECTS - CLICK HERE
STOXX 600 SLIPS, FRANCE'S CAC 40 PLUNGES FURTHER - CLICK HERE
EUROPEAN FUTURES INDICATING SMALL REBOUND, FRANCE STRUGGLING - CLICK HERE
BOJ'S DOVISH SURPRISE, AI AND THE POPE - CLICK HERE
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