HomeFinancial MarketsDow Slips as Nasdaq Hits Record High

Dow Slips as Nasdaq Hits Record High

U.S. stocks wrapped up the week mixed with investors focused on digesting the latest Federal Reserve policy meeting, with the central bank assuring investors that it appears to still be on track with its interest rate-cutting agenda.

While the Dow Jones Industrial Average slipped about 0.7%, drifting further from the 40,000 mark, while the S&P 500 edged 0.1% lower. In contrast, the tech-heavy Nasdaq Composite, which started the day lower, ended about 0.2% higher, closing at a fresh all-time high.

FedEx emerged as a major winner during the session, jumping 7% after operating margins improved and profits beat expectations. Nike stocks declined by 7% after the athletic apparel brand reported poorer sales than expected. Next week is expected to be quiet on the economic data front, with GameStop to report its earnings on Tuesday.

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