Stock market today: Nasdaq sets another record as Wall Street wins back earlier losses

NEW YORK — U.S. stocks rose in a bounce back from Wall Street’s worst day since April. The S&P 500 gained 0.7% to win back all its losses from earlier in the week. It eked out a fifth straight winning week and is just shy of its record set on Tuesday. The Dow Jones Industrial Average rose by less than 0.1%, and the Nasdaq composite gained 1.1% to top its all-time high set earlier this week.

Ross Stores was also leading the market with a leap of 8.2% after the retailer reported better profit for the latest quarter than analysts expected. That was despite its revenue only edging past expectations, as customers continue to hold back on purchases of non-essentials. “Walmart and Target are telling us that high income consumers are doing fine, but beginning to trade down,” said Brian Jacobsen, chief economist at Annex Wealth Management. “The lower income consumer is struggling. Macro often focuses too much on the average and the average is skewed by the high-end household.”

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Stock market today: Wall Street rises to erase its losses for the weekMost U.S. stocks are rising on Friday in a bounce back from Wall Street’s worst day since April.
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Stock market today: Asian shares track Wall Street’s slide on worries over interest ratesAsian shares retreated Friday after strong reports on the U.S. economy raised the possibility of interest rates staying painfully high. U.S. futures edged
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