Dow Closes out Best Week of Year

November 08,2024 12:25 pm EST

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The Dow Jones Industrials and S&P 500 climbed to new records on Friday, headed for their best week in a year after Donald Trump's election win.

The Dow zoomed 226.87 points to 43,956.21.

The S&P 500 index improved 20.42 points to 5,993.52.

The NASDAQ scaled back, though, 11.72 points to 19,257.74.

All three of the major averages are on pace for strong weekly gains, thanks in large part to Wednesday's huge rally following Trump's victory.

The S&P 500 is up about 4.6% for the week, as the Dow was higher by 4.6%. Both indexes are on track for their best week since November 2023. The NASDAQ is the outperforming even those moves, toting a 5.4% advance, while the small cap benchmark Russell 2000 is up more than 8% week to date.

Law enforcement tech stock Axon Enterprises jumped 12% after the company raised its full-year revenue guidance. Trump Media jumped 9% after the president-elect said he had no plans to sell his shares in the social media company.

Prices for the 10-year Treasury nicked ahead, lowering yields to 4.32% from Thursday's 4.33%. Treasury prices and yields move in opposite directions.

Oil prices stumbled $2.09 to $70.27 U.S. a barrel.

Prices for gold waned $11.60 an ounce to $2,694.20 U.S.