- China offers $325 bn in fiscal stimulus for ailing economy
- Dodgers drop Padres 2-0 to advance in MLB playoffs
- Alexei Navalny wrote he knew he would die in prison in new memoir
- Last-minute legal ruling allows betting on US election
- Despite hurricanes, Floridians refuse to leave 'paradise'
- Israel observes Yom Kippur amid firestorm over Lebanon strikes
- Trump demonizes migrants in dark, misleading speech
- X says 'alert' to manipulation efforts after pro-Russia bots report
- US, European markets rise before Boeing unveils sweeping job cuts
- Small Quebec company dominates one part of NHL hockey: jerseys
- Comoros shock Tunisia, Salah, Mbeumo strike in AFCON qualifiers
- Boeing to cut 10% of workforce as it sees big Q3 loss
- Germany win in Nations League as 10-man Dutch rescue point
- Undav brace sends Germany to victory against Bosnia
- Israel says fired at 'threat' near UN position in Lebanon
- Want to film in Paris? No sexism allowed
- Ecuador's last mountain iceman dies at 80
- Milton leaves at least 16 dead, millions without power in Florida
- Senegal set to announce breakaway development agenda: PM
- UN says 2 peacekeepers wounded in south Lebanon explosions
- Injury-hit Australia thrash 'embarrassing' Pakistan at Women's T20 World Cup
- Internal TikTok documents show prioritization of traffic over well-being
- Israel says fired at 'immediate threat' near UN position in Lebanon
- New US coach Pochettino hails Pulisic but worries over workload
- Brazil orders closure of 2,000 betting sites
- UK govt urged to raise pro-democracy tycoon's case with China
- Sculptor Lalanne's animal creations sell for $59 mn
- From Tesla to Trump: Behind Musk's giant leap into politics
- US, European markets rise as investors weigh rates, earnings
- In Colombia, children trade plastic waste for school supplies
- Supercharged hurricanes trigger 'perfect storm' for disinformation
- JPMorgan Chase profits top estimates, bank sees 'resilient' US economy
- Djokovic proves staying power as he progresses to Shanghai semi-finals
- Sheffield Utd boss Wilder 'numb' after Baldock death
- Little progress at key meet ahead of COP29 climate summit
- Fans immerse themselves in Marina Abramovic's first China exhibition
- Israel says conducting review after UN peacekeepers wounded in Lebanon
- 'Party atmosphere': Skygazers treated to another aurora show
- Djokovic 'overwhelmed' after 'greatest rival' Nadal's retirement
- Zelensky in Berlin says hopes war with Russia will end next year
- Kyrgyzstan opens rare probe into glacier destruction
- European Mediterranean states discuss Middle East, migration
- Djokovic proves staying power as progresses to Shanghai semi-finals
- Hurricane Milton leaves at least 16 dead as Florida cleans up
- Britain face 'ultimate challenge' in America's Cup duel with New Zealand
- Lebanon calls for 'immediate' ceasefire in Israel-Hezbollah war
- Nihon Hidankyo: Japan's A-bomb survivors awarded Nobel
- Thunberg leads pro-Palestinian, climate protest in Milan
- Boat captain rescued clinging to cooler in Gulf of Mexico after storm Milton
- Tears, warnings after Japan atomic survivors group win Nobel
Dow and S&P 500 eke out fresh records as stocks rally loses steam
Two of Wall Street's three major indices edged higher on Friday to reach new records, as investors looked to take the profits they have accumulated this week on the back of a market rally fueled by US technology titan Nvidia's blockbuster results.
The Dow and the S&P 500 hit new all-time highs, while the Nasdaq Composite slipped, following a 3.0 percent surge a day earlier.
In Europe, London, Frankfurt and Paris all ended the day higher, with the DAX and CAC indices closing at new records.
Most Asian shares climbed, following a day of record highs in Japanese, US and eurozone markets on Thursday. Tokyo was closed for a public holiday, one day after the Nikkei 225's record finish.
While stock markets were relatively buoyant, oil prices sank on demand fears after Federal Reserve policymakers appeared to commit the US central bank to a longer period of high interest rates than some analysts had expected.
And the price of natural gas in Europe fell to a nearly three-year low, dampening inflation fears, as mild winter weather continues and stockpiles hold up.
- AI bandwagon -
"The focus of financial markets in the last 48 hours has been Nvidia's earnings report and its upbeat commentary about the future take-up of AI," said XTB analyst Kathleen Brooks.
"Nvidia's market capitalization gained $277 billion on Thursday alone, the biggest one-day increase in market cap ever."
Markets celebrated Thursday as Nvidia helped push Tokyo's benchmark index past a record high set in 1989, and the euphoria spilled over onto Wall Street, with the blue-chip Dow lodging its first close above 39,000 points.
"The emergence of AI as a huge new source of investment and growth has come at a particularly advantageous time," said Scope Markets analyst Joshua Mahony.
Its emergence has enabled "a continued push into record highs despite an unwelcome environment of tight monetary policy in the face of global inflationary pressures," he added.
On Friday, Nvidia shares rose more than three percent at the opening bell before slipping to finish up only 0.4 percent.
That added to the 16.4 percent from the previous day's trading that lifted its market value to almost $2 trillion, as investors cheered quarterly profits hitting $12.3 billion on record-high revenue.
Other tech giants, including Facebook owner Meta and Microsoft -- among Nvidia's largest customers -- also saw gains on Thursday and then stumbled on Friday to close lower.
Investors were digesting the outlook for US interest rates.
On Thursday, three Fed officials signaled that rate cuts would more than likely come later this year, with one suggesting he wanted to see "at least another couple more months of inflation data" before deciding when to initiate cuts.
- Key figures around 2145 GMT -
New York - Dow: UP 0.2 percent at 39,131.53 points (close)
New York - S&P 500: UP less than 0.1 percent at 5,088.80 (close)
New York - Nasdaq Composite: DOWN 0.3 percent at 15,996.82 (close)
London - FTSE 100: UP 0.3 percent at 7,706.28 (close)
Frankfurt - DAX: UP 0.3 percent at 17,419.33 (close)
Paris - CAC 40: UP 0.7 percent at 7,966.68 (close)
EURO STOXX 50: UP 0.4 percent at 4,872.57 (close)
Tokyo - Nikkei 225: Closed for holiday
Hong Kong - Hang Seng Index: DOWN 0.1 percent at 16,725.86 (close)
Shanghai - Composite: UP 0.6 percent at 3,004.88 (close)
Euro/dollar: UP at $1.0824 from $1.0823 on Thursday
Dollar/yen: FLAT at 150.53 yen from 150.53 yen
Pound/dollar: UP at $1.2672 from $1.2660
Euro/pound: DOWN at 85.39 pence from 85.48 pence
West Texas Intermediate: DOWN 2.7 percent at $76.49 per barrel
Brent North Sea Crude: DOWN 2.5 percent at $81.62 per barrel
burs-rl/da/sst
H.E.Young--AMWN