Wall Street ends week with gains, Dow Jones does best

NEW YORK, New York – U.S stocks moved higher Friday as investors and traders began warming to the possibility of a 50 basis points interest rate cut when the Fed’s monetary committee meets next week.

“There’s just rumblings that have started to bubble up again that the discussion in the Fed is leaving 50 basis points on the table,” Jim Baird, chief investment officer with Plante Moran Financial Advisors, Southfield, Michigan told Reuters news agency Friday.

“If investors were looking at this and saying they have to move quicker because they’re behind the curve you wouldn’t see risk assets like small caps rally,” Baird said. “You’re seeing some of the riskier areas of the equity market advance pretty strongly today.”

One stock to stand out was Trump Media which owns Truth Social and is majority-owned by former U.S. President Donald Trump. The stock jumped $1.89 or 11.79 percent Friday to close at $17.97.

Following are Friday’s closing quotes for the key U.S. indices:

The S&P 500 closed at 5,626.02, gaining 30.26 points, or 0.54 percent. Strong performances in technology and healthcare sectors contributed to the index’s rise, as market optimism was bolstered by better-than-expected corporate earnings and a steady economic outlook.

The Dow Jones Industrial Average posted a significant increase, closing at 41,393.78. The index added 297.01 points, up 0.72 percent, driven by strong showings from industrial and consumer goods stocks. The Dow benefited from improved investor sentiment as economic data suggested resilience in key sectors of the economy.

The NASDAQ Composite also performed well, gaining 114.30 points to close at 17,683.98, reflecting a 0.65 percent increase. Tech giants led the surge, as the sector continued to show strength amid expectations of sustained growth and innovation in the industry.

Global Forex Markets Close Mixed Friday

The global foreign exchange market traded on Friday with mixed results, as the U.S. dollar showed weakness against several major currencies, while others experienced minor gains. Traders continued to assess economic data and global monetary policy trends, with fluctuations reflecting the shifting market sentiment, and perceptions about the oucome of next week’s Federal Reserve monetary meeting.

The Euro/US Dollar (EUR/USD) pair edged higher, recahing 1.1077 with a gain of 0.03 percent.

In contrast, the US Dollar/Japanese Yen (USD/JPY) pair saw a significant decline, with the yen strengthening against the dollar. The pair fell by 0.61 percent to 140.92, as the yen benefited from renewed interest in safe-haven currencies amidst concerns about global growth prospects.

The US Dollar/Canadian Dollar (USD/CAD) pair saw a modest gain, closing at 1.3591, up 0.09 percent. The Canadian dollar lost some ground against the dollar, influenced by oil prices and broader commodity market trends, which are crucial to the Canadian economy.

The British Pound/US Dollar (GBP/USD) pair remained unchanged, last traing at 1.3123 with no movement, as the market took a wait-and-see approach on further developments related to UK inflation and central bank policies.

The US Dollar/Swiss Franc (USD/CHF) pair declined, with the franc gaining 0.33 percent against the dollar to 0.8482.

The Australian Dollar/US Dollar (AUD/USD) pair saw a drop of 0.26 percent, to 0.6704.

Similarly, the New Zealand Dollar/US Dollar (NZD/USD) pair ended the day lower, falling by 0.40 percent to 0.6158.

Meanwhile, the U.S. Dollar Index dropped 0.29 percent to 101.07, down 0.30 points.

Global Markets Close with Mixed Results as Currency Indices Show Volatility

Friday’s global stock markets session closed with a mix of gains and losses across major indices, as investor sentiment remained varied and key currency indices fluctuated. While European markets generally saw positive movement, Asian markets displayed more tempered results, with some major benchmarks falling into the red.

CANADA

Canada’s S&P/TSX Composite Index followed suit, closing at 23,568.65 after adding 93.51 points, a 0.40 percent gain. Gains in the energy and materials sectors helped boost the index, as rising commodity prices provided a tailwind for the Canadian market.

UNITED KINGDOM

In London, the FTSE 100 closed higher Friday at 8,273.09, adding 32.12 points for a gain of 0.39 percent.

EUROPE

Germany’s DAX Performance-Index saw a robust rise of 181.01 points, closing at 18,699.40, up 0.98 percent.

Similarly, in France the CAC 40 ended the day at 7,465.25, up 30.18 points, marking an increase of 0.41 percent.

The broader ESTX 50 PR.EUR index also saw positive movement, finishing at 4,843.99 with a gain of 29.91 points, or 0.62 percent.

The Euronext 100 Index mirrored these gains, rising by 8.50 points to close at 1,471.42, reflecting a 0.58 percent increase.

Belgium’s BEL 20 index closed higher on Friday as well, gaining 28.46 points to reach 4,245.21, an increase of 0.67 percent.

ASIA

In Asia, the Hang Seng Index in Hong Kong closed at 17,369.09, up 128.70 points, representing a 0.75 percent rise.

China’s SSE Composite Index closed lower, shedding 13.03 points to finish at 2,704.09, a drop of 0.48 percent.

In Japan the Nikkei 225 was another notable loser, falling 251.51 points to close at 36,581.76, down 0.68 percent.

Singapore’s STI Index had a modest gain of 6.12 points, closing at 3,562.65, up 0.17 percent.

India’s S&P BSE Sensex saw a slight decline, closing at 82,890.94, down 71.77 points, or 0.09 percent.

In Indonesia the IDX Composite added 13.98 points Friday, closing at 7,812.13, up 0.18 percent.

Malaysia’s FTSE Bursa Malaysia KLCI had a strong day, closing at 1,652.15, up 13.84 points, or 0.84 percent.

In South Korea the KOSPI Composite Index closed at 2,575.41, gaining 3.32 points or 0.13 percent.

Taiwan’s TSEC Weighted Index saw a stronger performance, rising 106.40 points to close at 21,759.65, up 0.49 percent.

OCEANIA

Australia’s S&P/ASX 200 finished at 8,099.90 after adding 24.20 points, gaining 0.30 percent, while the All Ordinaries increased by 30.40 points, closing at 8,323.50 for a 0.37 percent gain.

In New Zealand the S&P/NZX 50 Index Gross posted a modest rise Friday of 12.27 points, ending at 12,832.55 for a 0.10 percent increase.

MIDDLE EAST

Middle East markets were mostly closed on Friday and will re-open on Sunday.

AFRICA

In South Africa, the Top 40 USD Net TRI Index gained 52.72 points, closing at 4,511.78, reflecting a 1.18 percent increase.