Stock market hits record highs
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Stocks fell broadly on Friday, as traders pared their bets on artificial intelligence in an increasingly uncertain market for tech. The S&P 500 and the Nasdaq Composite each ended the week lower, after posting two weeks of gains.
US stocks tipped mostly into the green on Wednesday after the Federal Reserve cut rates by 25 basis points in its final policy decision of the year.
Major stock indexes fell Friday as technology shares remained under pressure on AI bubble fears. The tech-heavy Nasdaq sank, and the S&P 500 and Dow Jones Industrial Average pulled back from records.
Stocks shoot higher on Wednesday after the Federal Reserve's final rate cut of the year, which has big implications for the typical end-of-year stock rally.
Dow, S&P 500, Nasdaq on pause as all eyes on Fed verdict — a likely rate cut: Stocks paused today as the Dow hit 47,655.93. The S&P 500 inched to 6,841.36. The Nasdaq slipped to 23,527.45. Markets priced a 90% chance of a Fed rate cut.
US stock futures traded mixed on Friday after Wall Street’s rotation from tech into value and cyclical names propelled the Dow and S&P 500 to new records. Wall Street is looking to end the week on a high note,
Shares of Tapestry Inc. rallied 4.89% to $123.49 Thursday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index rising 0.21% to 6,901.00 and the Dow Jones Industrial Average rising 1.
U.S. stock futures swung between gains and losses on Friday after Thursday’s mixed close. Futures of major benchmark indices were mixed.