Stock market today: Dow closes above 40,000, paces weekly gains as stocks rebound from tech sell-off

Category: Finance

US stocks finished the week in rally mode, with all three major indexes logging gains on Friday. The Dow closed above 40,000 for the second time ever, just over 2 points away from a record high. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all finished higher for the week. Wall Street banks' earnings results influenced the market. Tesla stock was downgraded by analysts at UBS. Novo Nordisk saw shares rise after a study linked the drug to lower dementia rates. Federal Reserve Chair Jerome Powell's upcoming speech and economic indicators will be closely watched next week.

Keywords: US stocks, Dow Jones, Wall Street banks, Tesla stock, Novo Nordisk, Federal Reserve, Jerome Powell

Source: Yahoo Finance

Update At: 7/15/2024

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