Stock Market Today: Dow ekes out gain to clinch record close

Investing.com-- The Dow eked out a gain to close at fresh record highs Friday, as investors weighed up a slump in Fedex and expectations for further Federal Reserve rate cuts following the central bank's jumbo-sized cut earlier this week.Stocks were boosted late this week after the Federal Reserve cut interest rates by 50 basis points.rates while the US economy is still growing.

Bowman was the sole voting Fed member who voted against the Fed's 50 basis point cut in September in favor of a lesser 25bps cut. FedEx is considered as a bellwether for the global economy, given its heavy exposure to trade. Its weak quarterly earnings also raise questions over a potential slowdown in activity.) stock rose nearly 7% after the athletic apparel firm announced that Chief Executive John Donahoe will set to step down from the position next month. Elliott Hill, who previously spent more than three decades at Nike in various senior leadership roles, will succeed Donahoe.

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