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- US stocks traded mixed Friday, with the Dow capping off a 10-day winning streak.
- It's the longest run of gains for the index since August 2017.
- Next week investors will be watching big earnings from Microsoft and Meta, as well as a Fed meeting.
US stocks traded mixed on Friday, with the Dow Jones Industrial Average eking out a gain to cap off a 10-day winning streak, its longest stretch in the green since August 2017.
To close the week, American Express, oil firm Schlumberger, and advertising company Interpublic Group all reported earnings. More than 70% of the companies that have reported so far have beat expectations, according to FactSet data.
Meanwhile, investors will be watching to see what policymakers announce at next week's Federal Reserve meeting. Many strategists expect a 0.25% interest rate hike, following last month's "skip."
A quarter-point hike to the 5.25%-5.50% range would "more than likely mark the end of a historic tightening cycle," EY Chief Economist Gregory Daco wrote in a note Friday. "But those expecting a fanfare will be disappointed as the Fed will make every (too many) efforts to sound as hawkish as tolerable for financial markets, to avoid an undesired easing of financial conditions."
Here's where US indexes stood as the market closed 4:00 p.m. on Friday:
- S&P 500: 4,536.32, up 0.03%
- Dow Jones Industrial Average: 35,228.48, up 0.01% (3.30 points)
- Nasdaq Composite: 14,032.81, down 0.22%
Here's what else is going on:
- One of Wall Street's favorite chipmakers has seen its value tumble this week.
- There are three ways the Barbie movie could drive upside for Mattel stock.
- Robert Shiller says the decade-long rally in home prices could end when the Fed stops its hiking cycle.
- There are signs that housing could see some good news on the horizon.
- These indicators suggest the stock market isn't as stretched as it might seem.
- 'Shark Tank' star Kevin O'Leary sounded off on Bidenomics and the S&P 500.
In commodities, bonds, and crypto:
- Oil prices climbed, with West Texas Intermediate up 1.7% to $76.92 a barrel. Brent crude, the international benchmark, inched higher 1.6% to $80.88 a barrel.
- Gold edged lower 0.3% to $1,964.20 per ounce.
- The 10-year Treasury yield dipped one basis points to 3.835%
- Bitcoin moved higher 0.48% to $29,865.73