The most recent economic statistics continued to paint a good image of the economy, even though the S&P 500 edged lower on Friday and was still on track for weekly gains.
Although the Nasdaq Composite fell 0.4%, the broad index lost 0.2%. With 8 points lost, the Dow Jones Industrial Average was trading almost flat.
The major averages are on track for a positive week despite Friday’s lacklustre moves. The blue-chip Dow has increased by 0.5%, while the S&P 500 and the technology-heavy Nasdaq Composite have roughly 1% each.
The last six sessions have seen gains for the Nasdaq and the S&P 500. For the fifth trading day in a row, the benchmark S&P 500 has closed at a record high—the longest such run since November 2021.
This week’s positive economic statistics helped stocks rise. Friday’s numbers were even more encouraging.
Source (CNBC)
