Friday Comeback Lifts Dow as Markets Digest PCE Inflation – New Highs Next Week?
U.S. stocks staged a late-session rebound on Friday, reversing mid-day losses and breaking a three-day losing streak despite lingering...
Quick overview
- U.S. stocks rebounded on Friday, ending a three-day losing streak despite earlier mid-day losses.
- The Dow Jones led the advance, supported by strong performances from Boeing, Tesla, and Intel.
- The S&P 500, Nasdaq, and Russell 2000 all posted gains, although they experienced weekly declines.
- Stable inflation data calmed market fears but limited expectations for aggressive Fed rate cuts.
Live DOW Chart
U.S. stocks staged a late-session rebound on Friday, reversing mid-day losses and breaking a three-day losing streak despite lingering weekly declines.
A Volatile Trading Day Ends on a Strong Note
Friday’s session began with optimism after the PCE inflation report came in as expected, calming fears of renewed price pressures. Stock futures climbed quickly while the U.S. dollar eased, sparking a sharp 30-point rally in the S&P 500. However, the initial surge faded by midday as investors questioned whether the move was sustainable.
Dow Jones Chart Daily – The 20 SMA Keeping the Trend Bullish
In the final hour, buyers returned in force, driving the indices to close near session highs. The Dow Jones led the advance, bouncing from technical support near its 20-day simple moving average (SMA) on the daily chart. Boeing, Tesla, and Intel were among the day’s standout gainers, helping Wall Street snap its losing streak.
Closing Levels for Major U.S. Stock Indices – Friday Recap
- S&P 500: Closed at 6,643.70 points, gaining +38.98 points (+0.6%) as investors stepped back into large-cap names after midweek losses.
- Nasdaq Composite: Finished at 22,484.07 points, up +99.37 points (+0.4%), lifted by renewed interest in select tech and growth stocks.
- Dow Jones Industrial Average (DJIA): Ended at 46,247.29 points, advancing +299.97 points (+0.7%), showing relative strength as cyclical stocks rebounded.
- Russell 2000: Closed at 2,434.32 points, adding +23.28 points (+0.8%), outperforming on the day as small-cap shares regained momentum.
Weekly Performance Overview
- S&P 500: Declined -0.3% over the week, marking a modest pullback after recent highs.
- Nasdaq Composite: Slipped -0.7%, pressured by weakness in mega-cap tech early in the week.
- Russell 2000: Dropped -0.7%, reflecting continued volatility in small- and mid-cap names despite Friday’s rebound.
- Toronto TSX Composite: Ended the week flat, showing resilience as commodity-heavy sectors offset weakness elsewhere.
Inflation Relief Offers Breathing Space
The market’s reaction underscored that stable inflation is acceptable, but any sign of rising price pressures remains a concern for investors. The PCE data reduced expectations for aggressive Fed rate cuts in the coming year by about 12 basis points, which limited the upside momentum.
Despite Friday’s comeback, the gains weren’t enough to fully erase the losses accumulated earlier in the week. Still, the late-day recovery offered a more constructive close, hinting that bulls may be ready to defend key technical levels heading into next week’s trading.
Dow Jones Live Chart
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