Stock market today: Nasdaq ekes out 5th straight record to cap banner week for tech

US stocks finished little changed Friday, with the S&P 500 and Nasdaq logging strong weekly performances as Apple's AI strategy and Elon Musk's pay package win at Tesla took center stage. The Dow Jones Industrial Average lost about 0.2%, while the S&P 500 tipped just below the flatline. The tech-heavy Nasdaq Composite gained 0.1% to eke out its fifth consecutive record close. The S&P 500 finished up around 1.5% this week, while the Nasdaq gained more than 3%.

Read more: How does the labor market affect inflation? But the Fed this week dialed down its projected rate cuts from three to one in 2024, keeping the market guessing and leaving stocks vulnerable to shifts in mood. Strength in technology names has driven broader gains, earning the S&P 500 and the Nasdaq multiple record closes for the week. But the Dow suffered a loss for the week, as questions persist about the breadth of this year's rally.

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