Stock market today: Stocks edge higher after biggest wipeout for Dow in a year

US stocks turned higher Friday as Wall Street looked to bounce back from the Dow's biggest wipeout in over a year. The S&P 500 rose about 0.3%, while the tech-heavy Nasdaq Composite gained around the same amount. The blue-chip Dow Jones Industrial Average put on around 0.1%, or roughly 50 points. Renewed interest rate concerns fueled Thursday's rout, led by the Dow's more than 600-point decline.

That marks a significant shift from a few days ago, when only around one-third expected the Fed to hold steady through the fall's first meeting. Goldman Sachs on Friday said it no longer expects the Fed to make its first cut in July, instead suggesting September was most likely. But Wall Street could enter the holiday weekend in better spirits. Nvidia , whose latest blowout quarter spurred an early rally Thursday, was up shy of 1% Friday to hover around $1,040 per share.

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Stock market today: Dow closes above 40,000 for first time to cap winning week for stocksStocks trod water as investors assess the chances of the Dow succeeding in another bid to cross 40,000 for the first time.
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Stock market today: Stocks tread water with Dow poised for another bid for 40,000Stocks trod water as investors assess the chances of the Dow succeeding in another bid to cross 40,000 for the first time.
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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: Dow touches 40,000 as stocks hover at record highsSigns 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: 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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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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