Nasdaq edges to record while Dow pulls back
The Nasdaq edged to a fresh record while the Dow pulled back on Friday, as US stock markets took a breather after two buoyant sessions following mixed corporate earnings. All three indices finished at records the last two days, on the back of Wednesday's Federal Reserve meeting. But major indices have since had a more subdued performance, suggesting some profit taking. The Dow Jones dropped 0.8 percent to 39,475, retreating from a serious drive at the 40,000-point level. The S&P 500 slipped 0.1 percent to 5,234, while the Nasdaq climbed 0.2 percent to 16,428, a third straight record close. "Even though, during the month of March, certainly we've seen more broadening in market leadership, today we were back to growth-style investments leading the way," said Angelo Kourkafas of Edward Jones. Among individual companies, Nike fell 6.9 percent after the sports giant's forecast for the coming quarters disappointed investors. FedEx jumped 7.4 percent after reporting better than expected results, though the delivery company said it still faces "a difficult demand environment." Digital World Acquisition Corp fell 13.7 percent after announcing shareholders approved its merger with Trump Media & Technology Group, generating some US$3 billion for former president Donald Trump. (AFP)