In a rollercoaster trading session, the Dow Jones Industrial Average recorded a fresh intraday high and closed higher, while the tech-heavy Nasdaq-100 reached a record high, extending its winning streak for the seventh consecutive week. This positive momentum supported both major indexes in ending the week on a high note.
The Dow closed at 37,305.16, an increase of 56 points or 0.2%. Meanwhile, the S&P 500 slipped slightly by 0.01%, or 36 points, to 4,719.19. On the other hand, the Nasdaq Composite rose by 52 points, or 0.4%, reaching 14,813.92. Notably, the Nasdaq-100 broke above its previous record closing high of 16,573.34, which was achieved in November 2021.
One standout performer was Costco, whose shares soared by 4.5% to an all-time high during the trading session. The retailer exceeded Wall Street’s expectations for quarterly results and announced a dividend of $15 per share.
Both the Dow and the Nasdaq delivered an impressive seventh straight week of gains. The Dow has risen 3.7% on the month thus far, while the S&P 500 and the Nasdaq Composite have shown increases of 3.3% and 4.2% respectively since the start of December. The S&P 500 narrowly missed achieving a seventh consecutive weekly gain, a feat it hasn’t accomplished since 2017. However, there is still potential for the S&P 500 to reach its own all-time high, as it sits less than 2% away from its previous record close in January 2022.
Source (CNBC)
