(MENAFN- Baystreet)
Dow Slips After Nearing 40K
Wall St. On Track for Winning Week Despite Negative Start to Friday
Futures Slip After Record-Setting Day
Record Setting Rally Rolls on, Dow Adds 260+
Dow Leaps 300+ En Route to New High Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Friday, March 22, 2024
Dow Tanks, but Still Posts Best Week Since December Advertisment
The Dow Jones Industrial Average slipped on Friday, but clinched its best week of the year after back-to-back record-setting sessions.
The 30-stock index withered 305.47 points to 39,495.90.
The S&P 500 index staggered 7.35 points to 5,234.18.
The NASDAQ gained 26.98 points to 16,428.82.
All three major averages notched healthy gains this week, with the S&P 500 rising about 2.3%. The Dow was up just shy of 2% and registered its best week since December. The NASDAQ is the outperformer of the three, jumping nearly 2.9%.
FedEx rose more than 7% after posting adjusted earnings that beat analyst estimates, while Nike sank 6.9% on disappointing guidance and slowing China sales. Lululemon slid 15.8% on weak guidance and slowing growth in North America, and headed for its worst day since March 2020.
Prices for the 10-year Treasury were higher, lowering yields to 4.21% at Thursday's 4.27%.
Oil prices lost 26 cents to $80.81 U.S. a barrel.
Gold prices sank $19.80 to $2,165.00.
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