US Stock Market Today: Wall Street Opens Mix With Gains In Dow Jones, S&P 500; Nasdaq Flat
The Dow Jones rose 0.3% amid gains in utilities and consumer staples, while the Nasdaq stayed flat, reflecting mixed performance across Wall Street.
The US stock market opened mixed on Friday, with two main indices gaining. The 30-stock Dow Jones Industrial Average was up over 100 points, or 0.3%, at 43,987, while the tech-heavy Nasdaq Composite was flat near 19,000.
The S&P 500 advanced 0.1% to 5,947. All but one of the eleven sectoral indices were trading in the green, led by utilities and consumer staples. Telecom and communication services saw a decline.
Among notable stocks, Super Micro Computer Inc. extended its rally to its third day with over a 10% jump. Vaccine-maker Moderna Inc. and Airbnb also reported gains.
Shares of chipmaker Nvidia Inc., Facebook operator Meta Inc., and Google parent Alphabet saw declines.
Investors will shift their attention to US business activity data due on Friday, seeking insights into the economy's strength and the Federal Reserve's interest rate trajectory. Traders are pricing in just above a 50-50 chance of a rate cut in December, following near certainty of a reduction earlier this month, reported Bloomberg.
The yield on the US 10-year Treasury bond declined one basis point to 4.41%.
The US dollar is on track for its longest streak of weekly wins since September 2023. The Dollar Index rose 0.4% to 107.15. The euro and British pound fell 0.5% while the Japanese yen dipped 0.1% to 154.70 per dollar.
In commodities, spot gold rose 0.7% to $2,687.30 an ounce. International benchmark Brent oil remained above $74 per barrel.
The rally in Bitcoin lost steam after the cryptocurrency earlier set a fresh high on bets that Donald Trump’s support for crypto and a looser regulatory environment will help the industry. The unit was little changed at $98,016.07.
