NEW YORK, New York – U.S. stock markets steadied on Friday after a week of significant gains which took the Dow Jones to two consecutive all-time highs. It was a positive week for the outlook on inflation, and in consequence, interest rates – particularly after the Federal Reserve forecast three rate cuts in 2024. And to top it off the Dow hit another record high on Friday in a last-minute reversal which saw the benchmark index bounce just before the close.

“What I think we got this week is that (Fed Chair Jerome Powell) doesn’t want to overly punish the economy with (rates) being higher for longer for no good reason,” Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh told CNBC Friday.

“I don’t know if we’re going to get whatever is considered a Santa Claus rally, but it looks like all things being considered, we could drift higher from here,” Forrest said.

Both the Dow and the Nasdaq Composite edged up Friday while the Standard and Poor’s 500 finished flat.

Following are the closing quotes of the major indices:

S&P 500 (US): The S&P 500 closed at 4,719.19, indicating a slight decrease of 0.36 points or -0.01 percent.

Dow Jones Industrial Average (US): The Dow Jones Industrial Average concluded at 37,305.16 Friday, registering a modest gain of 56.81 points or +0.15 percent.

NASDAQ Composite (US): The NASDAQ Composite ended at 14,813.92, showcasing an uptick of 52.36 points or +0.35 percent.

Global Forex Market Recap: Currencies Reflect Mixed Moves on Friday

In the world foreign exchange markets on Friday, major currency pairs experienced a variety of movements, with the U.S. dollar taking a breather after week of relentless losses. Here’s a summary of the latest exchange rates approaching Friday’s close in the U.S.:

Euro / US Dollar (EUR/USD): The Euro against the US Dollar settled at 1.0904, reflecting a decrease of 0.79 percent or -0.0087.

US Dollar / Japanese Yen (USD/JPY): The US Dollar against the Japanese Yen concluded at 142.07, showing a modest increase of 0.17 percent or +0.24.

US Dollar / Canadian Dollar (USD/CAD): The Canadian Dollar rose to 1.33651, indicating a gain of 0.30 percent or +0.0040.

British Pound / US Dollar (GBP/USD): The British Pound eased to 1.2691 Friday, marking a decrease of 0.58 percent or -0.0074.

US Dollar / Swiss Franc (USD/CHF): The Swiss Franc dropped to 0.8697, showing declined of 0.27 percent or -0.0023.

Australian Dollar / US Dollar (AUD/USD): The Australian Dollar advanced to 0.6714 Friday, reflecting an increase of 0.27 percent or +0.0018.

New Zealand Dollar / US Dollar (NZD/USD): The New Zealand Dollar firmed to .62144, indicating a modest increase of 0.15 percent.

Close of Week for Global Stock Markets: Major Indices Reflect Mixed Trends

In the closing stock market quotes for Friday, a diverse range of global indices showcased varying performances, with some witnessing gains while others experienced losses. Here’s a snapshot of the key indices:

CANADA

S&P/TSX Composite Index (Canada): Canada’s S&P/TSX Composite index closed at 20,529.15, reflecting a notable decrease of 249.65 points or -1.20 percent.

UNITED KINGDOM

FTSE 100 (UK): The FTSE 100 closed at 7,576.36, registering a decrease of 72.62 points or -0.95 percent.

EUROPE

DAX PERFORMANCE-INDEX (Germany): The DAX closed at 16,751.44, showing a marginal decline of 0.79 points or -0.00 percent.

CAC 40 (France): France’s CAC 40 index ended at 7,596.91 Friday, marking an increase of 21.06 points or +0.28 percent.

ESTX 50 PR.EUR (Eurozone): The Eurozone’s ESTX 50 PR.EUR index concluded at 4,549.44, reflecting a modest increase of 10.28 points or +0.23 percent.

Euronext 100 Index (Eurozone): The Euronext 100 Index closed at 1,401.80, showing a positive movement of 1.85 points or +0.13 percent.

BEL 20 (Belgium): Belgium’s BEL 20 index ended at 3,732.72, marking a decrease of 14.00 points or -0.37 percent.

RUSSIA

MOEX Russia Index (Russia): Russia’s MOEX Russia Index closed at 2,222.51 Friday, indicating a decrease of 4.14 points or -0.19 percent.

ASIA

Nikkei 225 (Japan): The Nikkei 225 in Japan closed at 32,970.55, recording a positive movement of 284.30 points or +0.87 percent.

HANG SENG INDEX (Hong Kong): Hong Kong’s Hang Seng Index concluded at 16,792.19, exhibiting a significant gain of 390.00 points or +2.38 percent.

SSE Composite Index (China): China’s SSE Composite Index stood at 2,942.56, signaling a decrease of 16.43 points or -0.56 percent.

Shenzhen Index (China): The Shenzhen Index in China on Friday closed at 9,385.33, reflecting a decline of 32.64 points or -0.35 percent.

STI Index (Singapore): Singapore’s STI Index stood at 3,116.51, showcasing a decrease of 6.44 points or -0.21 percent.

S&P BSE SENSEX (India): India’s S&P BSE SENSEX closed at 71,483.75, marking a significant gain of 969.55 points or +1.37 percent.

IDX COMPOSITE (Indonesia): The IDX COMPOSITE in Indonesia ended at 7,190.99, reflecting a positive movement of 14.97 points or +0.21 percent.

FTSE Bursa Malaysia KLCI (Malaysia): The FTSE Bursa Malaysia KLCI closed at 1,462.45 Friday, showing an increase of 6.19 points or +0.43 percent.

KOSPI Composite Index (South Korea): The KOSPI Composite Index in South Korea closed at 2,563.56, recording a positive movement of 19.38 points or +0.76 percent.

TSEC weighted index (Taiwan): Taiwan’s TSEC weighted index stood at 17,673.87, reflecting a positive movement of 20.76 points or +0.12 percent.

NIFTY 50 (India): India’s NIFTY 50 closed at 21,456.65, signaling an increase of 273.95 points or +1.29 percent.

OCEANIA

S&P/ASX 200 (Australia): Australia’s S&P/ASX 200 index finished at 7,442.70 Friday, showcasing an increase of 64.80 points or +0.88 percent.

ALL ORDINARIES (Australia): The ALL ORDINARIES index in Australia closed at 7,661.90, recording an increase of 62.50 points or +0.82 percent.

S&P/NZX 50 INDEX GROSS (New Zealand): New Zealand’s S&P/NZX 50 INDEX GROSS concluded at 11,550.20, indicating a slight decrease of 2.68 points or -0.02 percent.

AFRICA

Top 40 USD Net TRI Index (South Africa): The Top 40 USD Net TRI Index in South Africa closed notably higher Friday at 4,057.28, with a substantial gain of 301.77 points or +8.04 percent.

MIDDLE EAST

Markets in Israel and Egypt as usual were closed on Friday.

These closing figures provide a comprehensive overview of the global market trends for the day, illustrating the dynamic nature of financial markets worldwide.

(Photo credit: Big News Network news agency).