US stocks close week mixed, Nasdaq hits record high

​​​​​​​By Gokhan Ergocun

ISTANBUL (AA) - The New York Stock Exchange ended the last trading day of the week with mixed results, while Nasdaq saw another record high.

The Dow lost 0.79%, or 273.78 points, to close at 45,834.22, after surpassing the 46,000 level for the first time on Thursday's close.

The Nasdaq rose 0.44%, or 98.03 points, to close at 22,141.10, hitting a historic high level, while the S&P 500 fell slightly by 0.05%, or 3.18 points, to 6,584.29.

The Volatility Index (VIX), also known as the “fear index," went up 0.34% to 14.76.

Following Thursday's release of inflation and labor force data, stock markets, which had seen record highs, showed mixed trading on Friday.

Accelerating consumer inflation and continuing risks to the labor market have strengthened expectations that the Fed will cut interest rates next week.

In the money market, it is widely expected that the Fed will cut its policy rate by at least 25 basis points next week.

Meanwhile, as the legal process continues regarding US President Donald Trump's attempt to remove Fed Governor Lisa Cook from office, the Trump administration filed an appeal on Thursday requesting that the lower court's decision allowing Cook to remain at the Fed be suspended before the Fed meeting.

Additionally, US media reported that US Treasury Secretary Scott Bessent has been meeting with potential candidates to replace Fed Chair Jerome Powell.

On the macroeconomic data front, the University of Michigan's consumer confidence index fell to 55.4 in September, its lowest level since May.

The US Congressional Budget Office also lowered its 2025 growth forecast for the country's economy from 1.9% to 1.4% and raised its unemployment rate expectation from 4.3% to 4.5%.

Meanwhile, US media reported that the Federal Trade Commission is investigating Amazon and Google's advertising pricing practices; Amazon's shares fell nearly 1%, while shares of Google's parent company, Alphabet, remained flat.