S&P 500 Closes Lower but Extends Weekly Winning Streak
The S&P 500 ended Friday’s session lower after reaching a record high in the previous session. Despite the pullback, the benchmark index still managed to post its third consecutive weekly gain.
The S&P 500 fell around 0.2% to close at 7,785.76. The Nasdaq Composite also declined 0.3% to 26,729.16, while the Dow Jones Industrial Average slipped 107.58 points, or about 0.2%, to 53,732.41.
For the week, the S&P 500 gained around 0.4%. The Nasdaq also maintained its positive momentum, rising 0.1% and recording its third straight weekly advance. In contrast, the Dow Jones finished the week about 0.6% lower.
It was another record-setting week for the S&P 500 after the index crossed the 7,800 level for the first time on Thursday. The benchmark reached an intraday all-time high of 7,816.70 before profit-taking emerged toward the end of the week.
Friday’s decline suggests that investors began locking in some gains following the strong rally to record levels. However, the ability of both the S&P 500 and Nasdaq to maintain weekly gains indicates that overall risk sentiment remains relatively resilient.
Source : Newsmaker.id
