Stock market today: Wall Street clings to modest gains and marks another winning week
Stocks clung to modest gains on Wall Street, enough to edge the S&P 500 index to another record high and its sixth winning week in the last seven
NEW YORK — Stocks clung to modest gains on Wall Street Friday, giving the market another record high and a winning week.
The listless day for stocks capped off a mostly solid week of earnings where the technology sector once again powered the market higher. The sector has been the driving force behind a rally that started in October.
The S&P 500 index rose 1.77 points, or less than 0.1%, to 5,088.80. That marks another record high for the benchmark index and its sixth winning week in the last seven.
Dow Jones Industrial Average rose 62.42 points, or 0.2%, to 39,131.53. The Nasdaq slipped 44.80 points, or 0.3%, to 15,996.82.
Weakness in some technology companies weighed down the market, in a reversal from Thursday. Apple fell 1%. Nvidia eked out a 0.4% gain, after crossing above the $2 trillion valuation mark earlier in the day. On Thursday, the chipmaker surged after reporting blockbuster demand for its semiconductors, which are used to power AI applications.
A pullback by travel-related companies also checked gains elsewhere in the market. Booking.com tumbled 10.1%, dragging other travel-related companies down. The online travel service beat Wall Street’s fourth-quarter sales and profit targets but issued a lukewarm forecast that spooked investors. Competitor Expedia Group fell 2%.
“Investors are sanguine, with political uncertainty, elevated valuations, and Fed uncertainty not able to dent the momentum in the market," said Mark Hackett, chief of investment research at Nationwide.
Earnings remained the big focus. Ticket seller and concert promoter Live Nation rose 2% after
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