The U.S. stocks had a mixed day on Friday. Blue-chip Dow Jones Average saw a 0.20% dip and reached its longest losing streak since 2020. Benchmark S&P 500 remained flat, while tech-heavy Nasdaq benefited from soaring tech stocks and finished the session with a 0.76% jump.
After climbing above 44,000 again early in the day, Dow Jones wrapped up Friday’s trading session with 86.06 points loss to close at 43,828.06. It was the seventh straight day of losses for the index, the most since February 2020, and marked a 1.81% weekly dip.
S&P 500 dropped all the way to 6,036.45 at one point before making a late rally to finish relatively flat at 6,051.09 points. It is 0.52% down for the week.
Nasdaq was the only major index to be in the green this week. It was propelled by a strong Friday’s session that saw Broadcom stock surge 24.43%, and Tesla stock has another jump of 4.34%. Nasdaq gained 164.98 points and closed at 21,780.25 for a 0.96% weekly gain.
Analysts expect the stock market to trend upward in the upcoming weeks. However, the direction of the movement will largely depend on the Federal Reserve’s decision on interest rates, which will come at next week’s meeting. The Fed is likely trending towards another 25 basis points slash before it halts cuts for the entire 2025.