US stock market: Wall Street ends in record weekly high but S&P 500, Dow Jones, Nasdaq struggle

Wall Street closed its third winning week in the last four with a quiet finish. The S&P 500 edged down by a whisper, less than 0.1 per cent, on Friday after setting its all-time high the day before. The Dow Jones Industrial Average fell 0.3 per cent, and the Nasdaq composite edged up by less than 0.1 per cent to add its own record. Charles Schwab, Regions Financial and other stocks rallied following stronger-than-expected profit reports, but Netflix gave back some of its stellar gains for the year despite also topping analysts’ expectations. Treasury yields eased in the bond market.

Wall Street stocks closed mixed Friday, with the S&P 500 and Nasdaq struggling to log significant gains as investors awaited further corporate results and remarks by the Federal Reserve chair next week. The Dow Jones Industrial Average slumped by 0.3 percent to 44,342.19, while the broad-based S&P 500 Index was flat at 6,296.79. The tech-heavy Nasdaq Composite Index crept up 0.1 percent to 20,895.66.

Both the S&P 500 and Nasdaq have been pushed to repeated record highs in recent weeks, as investors showed increased ambivalence to Trump's tariff threats, and confidence these policies may not damage the U.S. economy as severely as once feared.


Of the S&P sectors in positive territory, utilities was the biggest gainer. Energy led those in the red. It was weighed down by SLB , which dropped after reporting lower quarterly profit and a downbeat outlook, and Exxon Mobil, which slumped after losing a landmark legal battle over Chevron's acquisition of Hess.

Still, this week was seen as a proving ground for how Trump's economic policies are filtering into the wider economy.

A raft of economic data offered mixed signals, including robust retail sales, a rise in consumer inflation, and flat producer prices for June. The University of Michigan's Consumer Sentiment Index increased this month, although consumers were still worried about future price pressures.

Earnings season kicked off this week, giving an opportunity to U.S. corporations to showcase how tariffs were, or were not, affecting their businesses. Industrial giant 3M fell after the company said the impact of tariffs will mostly be felt in the second half of the year.

FAQs

Q1. What are US Stock Market indexes?
A1. US Stock Market indexes are S&P 500, Dow Jones, Nasdaq.

Q2. How are S&P 500 and Nasdaq performing?
A2. Both the S&P 500 and Nasdaq have been pushed to repeated record highs in recent weeks.