Wall Street Closes Out Longest Weekly Winning Streak in Six Years

Wall Street recently concluded its longest weekly winning streak in six years, buoyed by significant gains earlier in the week on hopes for lower interest rates in the United States. Despite a somewhat volatile day, the S&P 500 ended little changed on Friday, still managing to post a solid gain for the week and its seventh consecutive weekly gain. The Dow also saw an increase of 0.2 percent, reaching its third all-time high in a row, while the Nasdaq composite rose by 0.4 percent.

The stock market received a boost this week as hopes for interest rate cuts from the Federal Reserve in 2024 led to a decline in Treasury yields, alleviating pressure on the market.

Friday’s Market Performance

• The S&P 500 fell by 0.36 points, or less than 0.1 percent, closing at 4,719.19.
• The Dow Jones Industrial Average rose by 56.81 points, or 0.2 percent, reaching 37,305.16.
• The Nasdaq composite increased by 52.36 points, or 0.4 percent, ending at 14,813.92.
• The Russell 2000 index of smaller companies experienced a decline of 15.39 points, or 0.8 percent, closing at 1,985.13.

Weekly Performance

Here is a summary of the weekly performance:

• The S&P 500 is up 114.82 points, or 2.5 percent.
• The Dow is up 1,057.29 points, or 2.9 percent.
• The Nasdaq is up 409.95 points, or 2.8 percent.
• The Russell 2000 is up 104.31 points, or 5.5 percent.

Yearly Performance

Looking at the year-to-date performance:

• The S&P 500 has gained 879.69 points, or 22.9 percent.
• The Dow has gained 4,157.91 points, or 12.5 percent.
• The Nasdaq has gained 4,347.44 points, or 41.5 percent.
• The Russell 2000 has gained 223.88 points, or 12.7 percent.

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