The Dow Industrial Average had a rollercoaster day, reaching a high of 40,257, which would have been a record close. However, late selling pushed it below 40,000 before a last-minute rally brought it just above. The index closed at 40,000.91, up 0.62%. The S&P 500 was also on track to close at a record level but ended below Wednesday’s record. Despite reaching a new high, it closed up 0.55%. The NASDAQ faced a tough day yesterday but saw an intraday rise today, closing up 0.63%.
For the trading week, the Dow Industrial Average was up 1.59%, the S&P index rose 0.86%, the NASDAQ index increased by 0.25%, and the Russell 2000 had its best week since October 30, 2023, with a gain of 5.996%. Leading Dow stocks this week were Intel, Home Depot, Amgen, UnitedHealth, Travelers, IBM, and Goldman Sachs.
Goldman, UnitedHealth, and Travelers will be announcing earnings next week. The Magnificent 7 had a mixed week, with only Nvidia and Apple seeing gains. Meta Platforms was the worst performer with a decline of 7.62%. Nvidia rose by 2.72%, Apple by 1.86%, Tesla fell by 1.31%, Amazon.com by 2.75%, Alphabet A by 2.89%, Microsoft by 2.95%, and Meta Platforms by 7.62%.
