Stock market today: US stocks mixed as Nasdaq flips into positive territory

US stocks were mixed on Friday after all three major indexes notched new record highs the day prior with the prospect of a reversal from interest rate hikes buoying investors' spirits. The tech-heavy Nasdaq Composite , which opened the day in the red, flipped into positive territory by mid-afternoon trading, up about 0.1%. The Dow Jones Industrial Average , which is eyeing the key 40,000 mark, fell about 0.5% while the benchmark S&P 500 traded flat.

The gauges remain on track for solid weekly gains, having racked up all-time closing highs after the Federal Reserve soothed worries it might scale back its forecast for rate cuts this year. Optimism that borrowing costs have peaked is also riding high on signs other big central banks are ready to pivot.

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