On Friday, the U.S. stock market closed with a mixed performance, reflecting the cautious sentiment among investors amidst ongoing concerns about various economic and geopolitical factors. The Dow Jones Industrial Average faced significant selling pressure, primarily driven by apprehensions surrounding inflation, interest rates, and geopolitical tensions. Investors closely scrutinized economic data releases and corporate earnings reports to glean insights into the health of the economy and individual companies.
In contrast, the NASDAQ Composite index managed to edge higher, buoyed by gains in technology and growth-oriented stocks. Positive sentiment surrounding certain tech giants and optimism regarding future growth prospects contributed to the index’s modest gain. However, the Standard and Poor’s 500 traded slightly lower, reflecting the overall indecisiveness in the market.
The specific closing quotes for key indexes were as follows: the S&P 500 closed at 5,234.18, recording a slight decline of 0.14 percent; the Dow Jones Industrial Average concluded at 39,475.90, experiencing a notable drop of 0.77 percent; and the NASDAQ Composite index finished at 16,428.82, marking a modest gain of 0.16 percent.
Meanwhile, in the foreign exchange market, the U.S. dollar exhibited strength against most currencies, particularly commodity currencies like the Canadian dollar, Australian dollar, and New Zealand dollar. However, it faced resistance against the Japanese yen. The euro, British pound, Swiss franc, Australian dollar, and New Zealand dollar all weakened against the U.S. dollar, underscoring the dollar’s broad-based strength.