Stock market today: Wall Street coasts to the close of another winning week as Nvidia cools again

The S&P 500 slipped 0.2%, but it remained close to its all-time high set on Tuesday and capped its eighth winning week in the last nine. The Dow Jones Industrial Average edged up by 15 points, or less than 0.1%, while the Nasdaq composite dropped 0.2%.

Shares of Trump Media & Technology Group rallied back from an early loss and rose 3.4% to trim its loss for the week to 25.3%. The company behind Donald Trump’s Truth Social platform had seen its stock nearly halve since theAll told, the S&P 500 dipped 8.55 points to 5,464.62. The Dow Jones Industrial Average rose 15.57 to 39,150.33, and the Nasdaq composite dropped 32.23 to 17,689.36.

“Historical comparisons indicate that the latest decline brings the survey’s price gauge into line with the Fed’s 2% inflation target,” according to Chris Williamson, chief business economist at S&P Global Market Intelligence. Fed officials themselves have penciled in one or two cuts in 2024 to their main interest rate, which has been sitting at its highest level in more than two decades. The economy is still growing, though it has slowed recently under the weight of high rates.The yield on the 10-year Treasury edged down to 4.25% from 4.26% late Thursday. The yield on the two-year Treasury, which more closely tracks expectations for Fed action, dipped to 4.73% from 4.74%.

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