NEW YORK (AFP/APP): The Dow edged to a fresh record Friday, extending a rally on a mixed day for global equities after this week’s central bank announcements.
The blue-chip US index, which topped 37,000 for the first time this week, added 0.2 percent to finish at 37,305.16, a third straight record.
For the seventh straight time, all three indices in New York scored weekly gains.
“Selling efforts had been driven by a lingering sense that stocks are overbought on a short-term basis,” said Briefing.com.
“Still, selling was modest considering the scope of recent gains.”
Markets largely shrugged off comments from New York Federal Reserve President John Williams that downplayed talk of imminent interest rate cuts.
Europe diverged amid news of slumping eurozone business activity. Frankfurt ended flat while Paris rounded out the week slightly ahead for a record close but London lost one percent.
Markets faced a busy week for global interest rates after the US Federal Reserve pivoted Wednesday to signal it would cut next year.
Both the Bank of England and the European Central Bank distanced themselves on Thursday from cutting any time soon.
