Dow Tops 40K, All-Time High

The Dow Jones Industrial Average closed Friday above the key 40,000 level after hitting that benchmark in the previous session.

The 30-stock index leaped 134.97 points to close Friday and the week at 40,004,35.

The S&P 500 gained 6.17 points to 5,303.27.

The NASDAQ Composite subtracted 12.35 points to 16,685,97.

Shares of Walmart and Caterpillar, both 1% higher, led the Dow. Chubb took on more than 3%, and Valero Energy gained more than 4%. The two were the biggest gainers in the S&P 500.

Stocks are on pace for a strong finish to the week, with the Dow up 1% and on pace for its fifth straight weekly gain. The S&P 500 hiked 1.5%, and NASDAQ climbed 2.3% week to date, on track for their longest winning streak since February.

This week’s ascent has helped propel the three indexes into positive territory for the second quarter despite a tough start. The S&P 500 and NASDAQ are now each up more than 11% in 2024, while the Dow has climbed more than 5% this year.

Prices for the 10-year Treasury slipped, raising yields to 4.42% from Thursday’s 4.38%. Treasury prices and yields move in opposite directions.

Oil prices took on 75 cents to $79.95 U.S. a barrel.

Gold prices moved ahead $35.10 to $2,411.70.