Nasdaq ends at record high, S&P 500 posts weekly rise

US equities ended Friday on a flat note, but recorded weekly gains amid expectations that the Federal Reserve will maintain interest rate cuts in the next week’s meeting.

The Dow Jones Industrial Average lost 273 points, or 0.59%, to close at 45,834, reducing its weekly gains to 0.95%.

The S&P 500 remained unchanged at 6,584 points, maintaining its weekly gains at 1.59%.

On the other hand, the Nasdaq added 0.44%, or 98 points, to 22,141, posting a weekly rise of 2%.

The technology sector was lifted by Micron Technology shares, which soared 4.42% to $157.22. Tesla also surged 7.36% to $395.94.

Elsewhere, the Stoxx Europe 600 index was steady at 554 points, keeping its weekly gain of 1%.

The FTSE 100 in London declined 0.15% to 9,283 points. The DAX in Germany was flat at 23,698 points, with France’s CAC 40 remaining unchanged at 7,825 points.

In Japan, the Nikkei 225 index rose 0.89% to 44,768 points, recording a weekly rise of more than 4%. The broader Topix index gained 0.40% to 3,160 points.

In the oil market, Brent crude futures for November delivery rose 0.93%, or 62 cents, to $66.99 a barrel, posting weekly gains of 2.3%.

US WTI crude futures for October delivery added 0.51%, or 32 cents, to $62.69 a barrel, recording a 1.32% gain for the week.

As for gold, December futures rose 0.35%, or $12.8, to $3,686.40 an ounce, marking a fourth straight week of gains (+0.90%).