The Dow Jones Industrial Average edged up to another record high while declines in tech stocks pulled other indexes lower.
The Dow added 0.3% Friday. The S&P 500 slipped 0.1%, a day after setting an all-time high for the 42nd time this year. The Nasdaq composite gave back 0.4%.
The market closed out another winning week as hopes hold that the economy can pull off the feat of getting painfully high inflation under control without a recession. Treasury yields eased after a report showed inflation and growth in consumer spending slowed by a touch more than expected.
On Friday:
The S&P 500 fell 7.20 points, or 0.1%, to 5,738.17.
The Dow Jones Industrial Average rose 137.89 points, or 0.3%, to 42,313.
The Nasdaq composite fell 70.70 points, or 0.4%, to 18,119.59.
The Russell 2000 index of smaller companies rose 14.83 points, or 0.7%, to 2,224.70.
For the week:
The S&P 500 is up 35.62 points, or 0.6%.
The Dow is up 249.64 points, or 0.6%.
The Nasdaq is up 171.27 points, or 1%.
The Russell 2000 is down 3.18 points, or 0.1%.
For the year:
The S&P 500 is up 968.34 points, or 20.3%.
The Dow is up 4,623.46 points, or 12.3%.
The Nasdaq is up 3,108.24 points, or 20.7%.
The Russell 2000 is up 197.63 points, or 9.7%.
