Dow Tanks, but Still Posts Best Week Since December

The Dow Jones Industrial Average slipped on Friday, but clinched its best week of the year after back-to-back record-setting sessions.

The 30-stock index withered 305.47 points to 39,495.90.

The S&P 500 index staggered 7.35 points to 5,234.18.

The NASDAQ gained 26.98 points to 16,428.82.

All three major averages notched healthy gains this week, with the S&P 500 rising about 2.3%. The Dow was up just shy of 2% and registered its best week since December. The NASDAQ is the outperformer of the three, jumping nearly 2.9%.

FedEx rose more than 7% after posting adjusted earnings that beat analyst estimates, while Nike sank 6.9% on disappointing guidance and slowing China sales. Lululemon slid 15.8% on weak guidance and slowing growth in North America, and headed for its worst day since March 2020.

Prices for the 10-year Treasury were higher, lowering yields to 4.21% at Thursday’s 4.27%.

Oil prices lost 26 cents to $80.81 U.S. a barrel.

Gold prices sank $19.80 to $2,165.00.