Trader
on
the
floor
of
the
New
York
Stock
Exchange.
Lucas
Jackson
|
Reuters
The
S&P
500
stabilized
Friday
after
hitting
another
record
as
investors
wrapped
the
week
on
a
high
note.
The
S&P
500
inched
higher
by
0.03%
to
close
at
5,088.80.
Earlier
Friday,
the
broad
market
index
broke
above
5,100
for
the
first
time.
The
Dow
Jones
Industrial
Average
added
62.42
points,
or
0.16%,
also
reaching
a
fresh
record
and
closing
at
an
all-time
high
of
39,131.53.
The
Nasdaq
Composite
lost
0.28%
to
close
at
15,996.82,
but
had
notched
a
fresh
52-week
high
earlier
in
the
session.
All
three
major
averages
registered
winning
weeks.
The
S&P
500
advanced
1.66%,
while
the
tech-heavy
Nasdaq
gained
1.4%
this
week.
The
Dow
is
up
1.3%
for
the
period.
S&P
500.
“The
question
from
here
is
do
investors
shake
that
momentum?
We’ve
run
up
so
far,
so
quickly.
It
might
not
make
a
lot
of
sense
to
chase
that
type
of
momentum,”
said
Charlie
Ripley,
senior
investment
strategist
at
Allianz
Investment
Management.
“Obviously,
we
haven’t
seen
quite
the
momentum
as
we
have
from
technology
stocks…I
think
that
does
pose
some
risks
in
terms
of
where
the
index
goes
ultimately,
because
clearly
everything’s
front-loaded
into
the
technology
shares,”
he
added.
Wall
Street
is
coming
off
a
monster
day
as
Nvidia
shares
roared
on
strong
quarterly
results,
leading
the
chipmaker
to
briefly
surpass
a
$2
trillion
valuation.
On
Thursday,
the
S&P
500
had
its
best
day
since
January
2023,
while
the
Nasdaq
Composite
popped
nearly
3%
for
its
best
session
since
February
2023.
The
30-stock
Dow
gained
about
1.2%.
On
the
corporate
earnings
front,
Block
surged
16.1%
after
fourth-quarter
revenue
surpassed
Wall
Street
estimates.
Carvana
climbed
32.1%
after
the
used
car
retailer
said
it
expects
retail
units
to
grow
in
2024.
