Stock market today: Dow sets a record as Wall Street drifts to the finish of another winning week

  • 📰 latimes
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 82%

Business News News

Business Business Latest News,Business Business Headlines

U.S. stocks closed another record-setting week with a muted performance.

U.S. stocks closed another record-setting week with a muted performance Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession. The S&P 500 edged down by 0.1% from its all-time high set the day before, its 42nd of the year so far. The Dow Jones Industrial Average rose 137 points, or 0.3%, to set its own record, while the Nasdaq composite slipped 0.4%.

Another company that depends on people spending money, ski-resort operator Vail Resorts, sank 3.9% after reporting a larger loss for the latest quarter than analysts expected. Scant snowfalls at its Australian resorts hurt its results, and it gave a forecast for profit in its upcoming fiscal year that fell short of forecasts. On the winning side of Wall Street, Bristol-Myers Squibb rose 1.6% after receiving U.S. federal approval for its new approach to treat schizophrenia in adults.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines