News

The S&P 500 index closed up about 0.5% initially, with a cumulative increase of about 3.9% this week before the Federal Reserve's FOMC monetary policy meeting next week; the Dow Jones Industrial Average closed up about 300 points initially, with a cumulative increase of about 2.6% this week; the Nasdaq 100 index closed up 0.5% initially, with a cumulative increase of about 5.9% this week. On Friday, the S&P utilities, telecommunications, and industrial sectors rose by over 1%. Warner Bros. Discovery rose by 10% initially, ARM rose by over 6%, Micron rose by over 4%, leading the Nasdaq 100 index components, while Moderna fell by over 2%, and Adobe fell by over 8%. American Express, Travelers Companies Inc., Intel, Home Depot, Caterpillar, McDonald's, and others rose by over 1%, leading the Dow components, with JPMorgan, maintaining the expectation of a 50 basis point rate cut by the Federal Reserve in September, falling by 1%, and Boeing falling by 3.6%