Stock Market Continues Winning Streak, Reaching Record Highs

U.S. stock futures were little changed after the three major averages completed their seventh consecutive week of gains. The Dow Jones Industrial Average reached a new intraday record, while the Nasdaq 100 achieved a new closing high. Futures tied to the Dow added 29 points, while S&P 500 and Nasdaq 100 futures inched up slightly. The winning streak for the S&P 500 marked its longest string of weekly gains since 2017. Investor sentiment improved after the Federal Reserve indicated three short-term interest rate cuts are expected in 2024. However, caution is advised due to weak near-term growth and earnings expectations in the U.S.