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Stocks finished near where they started Friday, as the Dow eked out a 10th day of gains and tech stocks rebounded somewhat as investors assessed the second-quarter earnings season so far.
The Dow Jones Industrial Average (^DJI) closed up slightly above the flatline — just over three points higher, or about 0.01% — after the blue-chip index bucked its peers with a Johnson & Johnson-led win on Thursday. Coming off losing sessions, the S&P 500 (^GSPC) also inched up, while the Nasdaq Composite (^IXIC) fell about 0.2%.
This week’s corporate results have soothed concerns about the resilience of the US consumer and about the health of the financial system in the wake of this spring’s banking crisis.
Now the market is starting to look ahead to Big Tech results from the likes of Microsoft (MSFT) next week, after uninspiring second-quarter updates from Tesla (TSLA) and Netflix (NFLX) dragged the Nasdaq to a sharp drop on Thursday.
Also in focus next is the Federal Reserve’s policy decision next week, centered on the chances of the US economy avoiding a severe slowdown. A stream of encouraging data has shown it’s robust in the face of the central bank’s rate-hike campaign.
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