Stocks experienced minimal movement on Friday as the Dow Jones Industrial Average aimed to extend its gains for the week, reaching new all-time highs. The Dow traded 29 points lower, indicating a 0.08% decline. Conversely, the S&P 500 showed a modest increase of 0.01%, while the Nasdaq Composite climbed by 0.4%.
Notably, Costco, the popular retailer, saw its shares rise by nearly 3% following its impressive quarterly results, which exceeded Wall Street’s expectations. Additionally, Costco declared a dividend of $15 per share, strengthening investor confidence in the company.
The broader market also continued its positive momentum, with major averages set for their seventh consecutive week of gains. As of Thursday, the Dow Jones Industrial Average has risen by 2.8% during the week. Similarly, the S&P 500 and the Nasdaq Composite have recorded gains of 2.5% each. This impressive performance also marks the longest winning streak for the S&P 500 since 2017 and for the Dow since 2019.
Source (CNBC)
