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Stock market today: Wall Street cruises toward the close of its best week in a year

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NEW YORK (AP) — U.S. stocks are coasting to the close of their best week in a year with some modest moves. The S&P 500 rose 0.1% early Friday and was on track for its biggest weekly gain since early November 2023.

NEW YORK — U.S. stocks are coasting to the close of their best week in a year with some modest moves. The S&P 500 rose 0.1% early Friday and was on track for its biggest weekly gain since early November 2023. The Dow Jones Industrial Average was up 83 points, and the Nasdaq composite gained 0.1%.

Digital pinboard and shopping site Pinterest slid 13.7% after the company's revenue guidance came in lower than investors expected, even as it easily beat Wall Street's sales and profit targets. Markets have been riding high this week, hitting more records after former President Donald Trump won re-election and the Federal Reserve cut its main lending rate for the second straight time.

In Europe at midday, Germany’s DAX and Paris's CAC 40 each fell 0.6%, while Britain’s FTSE 100 retreated 0.5%. Officials announced a 6 trillion yuan , three-year plan to help local governments refinance their many trillions of debt that has ballooned during the COVID-19 pandemic and a collapse of the property market.

 

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