US stocks traded mixed on Friday, with the Dow Jones Industrial Average eking out a gain to cap off a 10-day winning streak, its longest stretch in the green since August 2017.
To close the week, American Express, oil firm Schlumberger, and advertising company Interpublic Group all reported earnings. More than 70% of the companies that have reported so far have beat expectations, according to FactSet data. Meanwhile, investors will be watching to see what policymakers announce at next week's Federal Reserve meeting. Many strategists expect a 0.25% interest rate hike, following last month's"skip."
A quarter-point hike to the 5.25%-5.50% range would"more than likely mark the end of a historic tightening cycle," EY Chief Economist Gregory Daco wrote in a note Friday."But those expecting a fanfare will be disappointed as the Fed will make every efforts to sound as hawkish as tolerable for financial markets, to avoid an undesired easing of financial conditions."
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