Wall Street ends mixed Friday, Nasdaq outperforms

NEW YORK, New York - U.S. stocks were mixed Friday. The tech sector took center stage again, a day after Tesla shares rocketed 22 percent. Tesla was up again Friday but by three percent.

The Dow Jones was hard hit by investors staking profits in bank shares, and a 3 percent drop in McDonald's. "There's a lot of moving pieces right now, especially because of where we are in the election cycle, but we think earnings have been pretty good overall," Gustaf Little, senior portfolio manager at Allspring Global Investments told Reuters Friday.

The S&P 500 recorded a marginal loss Friday, dipping by 1.74 points or 0.03 percent to close at 5,808.12. Despite this slight downturn, market breadth remained steady, with volumes reaching 2.208 billion shares traded.

The Dow Jones Industrial Average (DJIA) suffered a sharper decline, falling by 259.96 points, or 0.61 percent, to end at 42,114.40. This drop reflects losses in cyclical stocks, as concerns about potential economic headwinds weighed on market sentiment. Trading volume for the Dow stood at 303.32 million shares.

On the other hand, the NASDAQ Composite Index surged by 103.12 points, or 0.56 percent, closing at 18,518.61. Gains in the technology sector provided significant upward momentum, with major companies rallying amid strong earnings reports and investor optimism.

Global Foreign Exchange Market Ends Friday with U.S. Dollar Gaining Traction

On Friday, the global foreign exchange market saw further gains for the U.S. dollar across major currency pairs as investors responded to economic indicators and geopolitical factors influencing market sentiment. The US Dollar Index increased by 0.27 percent to 104.33.

The Euro (EUR) slipped against the US dollar (USD), with the EUR/USD pair declining by 0.31 percent to 1.0793. This downward trend reflects cautious optimism in the U.S. economy, offsetting recent European economic data.

The US dollar (USD) gained against the Japanese yen (JPY), with the USD/JPY pair rising by 0.32 percent to reach 152.29. The yen continued to weaken despite expectations of intervention by the Bank of Japan.

The US dollar also advanced against the Canadian dollar (CAD), as the USD/CAD pair climbed 0.25 percent to 1.3888. This gain reflects support from higher Treasury yields and weaker oil prices, which weighed on the Canadian currency.

The British pound (GBP) edged lower, with the GBP/USD pair dipping by 0.12 percent to 1.2959. Uncertainty about the UK economy continued to pressure the pound.

The US dollar made marginal gains against the Swiss franc (CHF), with the USD/CHF pair rising 0.10 percent to 0.8664, reflecting the franc's slight loss of strength as safe-haven demand eased.

Meanwhile, the Australian dollar (AUD) weakened against the US dollar, with the AUD/USD pair falling 0.55 percent to 0.6603.

The New Zealand dollar (NZD) also dropped against the US dollar, with the NZD/USD pair declining by 0.66 percent to 0.5975. The kiwi's losses reflect broader market sentiment and weaker domestic economic data.

Global Stock Markets Close Mixed as Week Ends

On Friday, global stock markets showed a mixed performance across regions, reflecting varying sentiment amid economic concerns and positive momentum in certain sectors.

CANADA

In Canada, the S&P/TSX Composite Index fell by 87.88 points, or 0.36 percent, to finish at 24,463.67. Weakness in energy and financial stocks contributed to the decline, with trading volume reaching 170.502 million shares.

UNITED KINGDOM

In London, the FTSE 100 in London slipped by 20.54 points, a decline of 0.25 percent, closing at 8,248.84.

EUROPE

Similarly, France's CAC 40 fell by 5.74 points, registering a loss of 0.08 percent to settle at 7,497.54.

Meanwhile, the DAX in Germany on Friday managed a slight uptick, rising by 20.59 points or 0.11 percent to reach 19,463.59.

The Euro Stoxx 50 index saw gains of 7.64 points, up 0.15 percent to 4,943.09, while the Euronext 100 added 2.73 points, up 0.18 percent, closing at 1,480.46.

Belgium's BEL 20 rose by 0.45 percent, or 19.13 points, to close at 4,293.15.

ASIA

Asian markets exhibited mixed results Friday. In China, the SSE Composite Index rose by 19.44 points, gaining 0.59 percent to close at 3,299.70.

Japan's Nikkei 225 declined by 229.37 points, or 0.60 percent, ending at 37,913.92.

In Hong Kong the Hang Seng Index gained 100.53 points, rising 0.49 percent to close at 20,590.15.

Singapore's STI Index dropped by 11.54 points, a decline of 0.32 percent, to finish at 3,593.41.

In India the S&P BSE Sensex took a hit Friday, dropping by 662.87 points, or 0.83 percent, to close at 79,402.29.

Indonesia's IDX Composite also slipped by 21.89 points, down 0.28 percent, closing at 7,694.66.

Meanwhile, the FTSE Bursa Malaysia KLCI saw a sharper decline of 13.93 points, or 0.85 percent, finishing at 1,618.30.

South Korea's KOSPI Composite Index added 2.24 points, or 0.09 percent, ending at 2,583.27.

In Taiwan the TSEC Weighted Index advanced 155.93 points, gaining 0.67 percent to close at 23,348.45.

OCEANIA

In Australia, the S&P/ASX 200 on Friday edged up by 5.00 points or 0.06 percent to 8,211.30, while the Australian All Ordinaries advanced by 13.40 points, up 0.16 percent to 8,467.30.

New Zealand's S&P/NZX 50 dropped by 42.46 points, down 0.33 percent to close at 12,771.61.

MIDDLE EAST

Middle East markets were mostly closed on Friday and will reopen on Sunday.

AFRICA

South Africa's Top 40 USD Net TRI Index rose by 22.99 points, a 0.48 percent increase to 4,811.46.

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