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Stock market today: Stocks edge higher after biggest wipeout for Dow in a year

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Nasdaq Composite,The Dow,Dow Jones Industrial Average

Renewed concerns over the path of interest rates had prompted the Dow's worst day since March 2023.

US stocks turned higher Friday as Wall Street looked to bounce back from the Dow's biggest wipeout in over a year. The S&P 500 rose about 0.3%, while the tech-heavy Nasdaq Composite gained around the same amount. The blue-chip Dow Jones Industrial Average put on around 0.1%, or roughly 50 points. Renewed interest rate concerns fueled Thursday's rout, led by the Dow's more than 600-point decline.

That marks a significant shift from a few days ago, when only around one-third expected the Fed to hold steady through the fall's first meeting. Goldman Sachs on Friday said it no longer expects the Fed to make its first cut in July, instead suggesting September was most likely. But Wall Street could enter the holiday weekend in better spirits. Nvidia , whose latest blowout quarter spurred an early rally Thursday, was up shy of 1% Friday to hover around $1,040 per share.

 

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