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US stocks trade mixed as Dow caps off its longest winning streak since 2017

Jul 22, 2023, 03:10 IST
Business Insider
Traders work on the floor of the New York Stock Exchange (NYSE) on March 28, 2023 in New York City.Spencer Platt/Getty Images

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  • US stocks traded mixed Friday, with the Dow capping off a 10-day winning streak.
  • It's the longest run of gains for the index since August 2017.

US stocks traded mixed on Friday, with the Dow Jones Industrial Average eking out a gain to cap off a 10-day winning streak, its longest stretch in the green since August 2017.

To close the week, American Express, oil firm Schlumberger, and advertising company Interpublic Group all reported earnings. More than 70% of the companies that have reported so far have beat expectations, according to FactSet data.

Meanwhile, investors will be watching to see what policymakers announce at next week's Federal Reserve meeting. Many strategists expect a 0.25% interest rate hike, following last month's "skip."

A quarter-point hike to the 5.25%-5.50% range would "more than likely mark the end of a historic tightening cycle," EY Chief Economist Gregory Daco wrote in a note Friday. "But those expecting a fanfare will be disappointed as the Fed will make every (too many) efforts to sound as hawkish as tolerable for financial markets, to avoid an undesired easing of financial conditions."

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Here's where US indexes stood as the market closed 4:00 p.m. on Friday:

Here's what else is going on:

In commodities, bonds, and crypto:

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