Stock market today: Dow closes above 40,000 for first time to cap winning week for stocks

US stocks ticked upward Friday as the Dow Jones Industrial Average closed at 40,000 for the first time ever. The Dow rose 0.3% to score its record high. The S&P 500 ticked up 0.1%, while the tech-heavy Nasdaq Composite slipped 0.1%, but all the gauges notched weekly wins. A run-up in stocks hit a bump in the wake of comments from Fed officials warning that rates are likely to stay at historic highs for a while.

Bowman said she is willing to raise rates again at a future meeting if incoming data shows further stalling. Fed Chair Jerome Powell was scheduled to deliver remarks at Georgetown University’s Law School graduation this Sunday, but he will now be speaking through a pre-recorded video, after he tested positive for COVID-19, a central bank spokesperson said on Friday. In individual movers, Reddit shares jumped 10%, not far off its highest close of $65.11 hit in March.

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Stock market today: Stocks pull back from records after Dow touches 40,000 for first timeSigns inflation continues to cool is pushing stocks to record highs, with the Dow crossing 40,000 for the first time ever on Thursday.
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Stock market today: Stocks open steady as Dow tries to extend 6-day win streakStocks have lost their bounce after a growing chorus of Federal Reserve officials made it clear that interest rates will need to stay higher for longer.
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Stock market today: Stocks rise as Dow tries to extend 6-day win streakStocks have lost their bounce after a growing chorus of Federal Reserve officials made it clear that interest rates will need to stay higher for longer.
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Stock market today: Dow eyes 8th straight win as rate-cut hopes buoy stocksInvestors are listening out for a parade of Fed speakers to test a growing confidence that a rate cut is on the way.
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Stock market today: Stocks rise, Dow eyes 8th straight win as rate-cut hopes aboundInvestors are listening out for a parade of Fed speakers to test a growing confidence that a rate cut is on the way.
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Stock market today: Dow eyes 40,000 as stocks regroup near record highsSigns of cooling inflation continued to spur bets for a Federal Reserve rate cut in September.
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