Wall Street closes mixed, but the Dow Jones hits a new record
The leading Dow Jones index, composed of 30 blue-chip stocks, rose 0.33% to 42,313.00 points, marking a new closing record.
The three major U.S. stock market indices ended the week with positive performances, supported by several solid economic data points.
Wall Street’s main indices closed mixed on Friday. The leading averages posted mixed performances, but the U.S. market managed to maintain a positive weekly balance, with its main index reaching a new record.
The leading Dow Jones index, composed of 30 blue-chip stocks, rose 0.33% to 42,313.00 points, marking a new closing record. The S&P 500, comprising 500 stocks, fell 0.13% to 5,738.17 points, while the Nasdaq Composite dropped 0.39% to 18,119.59.
Earlier, inflation figures showed that price pressures in the world’s largest economy continued to moderate, potentially allowing the Federal Reserve more room to ease monetary policy in upcoming meetings.
The Personal Consumption Expenditures (PCE) price index rose 0.1% month-over-month in August, in line with expectations, following a 0.2% increase the previous month. On an annual basis, the Fed’s preferred inflation gauge increased by 2.2%, after rising 2.5% in July.
By sector, energy companies stood out with a 2.11% rise, along with utilities, which increased by 1.01%, compared to the decline in technology stocks (-0.96%) due to profit-taking. Within the Dow Jones, Chevron gained 2.46%, while Amazon led declines, falling 1.66%.
This week, in addition to the inflation data, positive U.S. GDP figures and new stimulus measures for China’s economy were also released. These factors helped lift the indices for the week: Dow up 0.59%, S&P 500 up 0.62%, and Nasdaq up 0.95%.
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