Trading was choppy on Friday. The S&P 500 briefly reached a record high but fell by closing. All three of the major indexes fell for the day but logged strong weekly gains after the Federal Reserve indicated it may cut rates later this year. For the week, the Dow rose 2.41 percent to close at 26,719.13. The S&P gained 2.22 percent to finish at 2,950.46, and the NASDAQ climbed 3.01 percent to end the week at 8,031.71.
Stocks closed lower Friday amid pressure on tech shares, continued trade issues, Middle East tensions and disappointing Chinese economic data. Improved retail sales data fueled speculation the Federal Reserve would hold off on cutting interest rates. For the week, the Dow rose 0.46 percent to close at 26,089.61. The S&P climbed 0.53 percent to finish at 2,886.98, and the NASDAQ gained 0.70 percent to end the week at 7,796.66.
Stocks jumped Friday. A weak job report appeared to fuel optimism the Federal Reserve would increase interest rates in the near future. Although economists anticipated 180,000 new jobs in May, the Labor Department reported 75,000 jobs were added. Positive sentiment pushed the Dow to its biggest weekly gain since November. For the week, the Dow rose 4.77 percent to finish at 25,983.94. The S&P gained 4.46 percent to finish at 2,873.34, and the NASDAQ climbed 3.88 percent to end the week at 7,742.10.
Stocks fell Friday after President Trump threatened a 5 percent tariff on Mexico because of illegal immigration at the border. The White House said the tariff would increase each month until reaching 25 percent in October. The possibility of two simultaneous trade wars pushed the Dow to its sixth straight losing week – the longest slump since June of 2011. For the week, the Dow fell 2.93 percent to close at 24,815.04. The S&P lost 2.58 percent to finish at 2,752.06, and the NASDAQ dropped 2.41 percent to end the week at 7,453.15.