Stock market today: Wall Street holds near record levels as it heads for a winning week

NEW YORK — U.S. stocks are holding near their record levels as they close out their fourth winning week in the last five. The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 98 points, or 0.2%, and the Nasdaq composite was flat. Technology stocks have been the market’s main drivers this week. Oracle rose after giving forecasts that analysts said topped their expectations.

Optimism is high that the Federal reserve is poised to cut its main lending rate next week for the first time in four years, though most experts are expecting a traditional quarter-point cut, not the half-point that some were previously calling for. On the flip side, software maker Oracle's shares jumped again after company executives told analysts at a conference that it was raising its 2026 and 2029 revenue guidance. Oracle is forecasting 2026 revenue of $66 billion and 2029 revenue of more than $104 billion. The forecast came just days after the company reported strong sales and profit in its most recent quarter. Its shares rose 6.5% in premarket, adding to its whopping 53% gain so far this year.

Hong Kong’s Hang Seng rose 0.8% to 17,369.09, while the Shanghai Composite was down 0.5% at 2,704.09 after China’s legislature announced Friday that it would raise the retirement age from 60 to 63 years for men and from 50 to 55 or 58 years for women, according to state media. The Chinese Academy of Sciences said the pension system may run out of money by 2035 because of the current economic slump and an aging population.

Elsewhere, Australia’s S&P/ASX 200 rose 0.3% to 8,099.90. South Korea’s Kospi picked up 0.1% to 2,575.41.

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