Stocks remained steady on Friday, capping off a successful week with back-to-back record-setting gains for the major averages.
In premarket trading, FedEx stocks surged 11.5% following better-than-expected adjusted earnings results. Meanwhile, Lululemon saw a 13% decline after providing weak guidance due to sluggish growth in North America, and Nike shares slumped 6% on disappointing guidance and slowing sales in China.
This week has been positive for all three major indexes, with the S&P 500 up by 2.4% and the Nasdaq up nearly 2.7%. The Dow has outperformed, showing a gain of almost 2.8% by Thursday’s close and on track for its strongest week since December.
On Thursday, all three indexes reached record levels for the second consecutive day, setting all-time intraday highs. The Dow increased by about 0.7%, while the S&P 500 and Nasdaq Composite each saw gains of approximately 0.3% and 0.2%, respectively. Thursday marked the fourth consecutive day of gains for these indexes.
Source (CNBC)
