Here are the most important news items that investors need to start their trading day:
1. S&P 5,000
The S&P 500 crossed 5,000 for the first time in the final minutes of trading Thursday, but came back down to close at a record 4,997.91. The Dow Jones Industrial Average also notched a new record, closing at 38,726.33. Despite the new milestones, gains for each of the major indexes were fairly muted, at just 0.06% for the S&P, 0.13% for the Dow and 0.24% for the Nasdaq Composite. Each index is in positive territory for the week heading into the final trading session of the period. Follow live market updates.
2. PINS + PEP
Pepsi bottles with new and previous logos are seen at the grocery store in Las Vegas, United States on November 17, 2023.
Jakub Porzycki | Nurphoto | Getty Images
Another pair of earnings reports dropped in the last 18 hours: Pinterest and PepsiCo. Pinterest reported fourth-quarter earnings after the bell Thursday, issuing weaker-than-expected guidance and reporting disappointing revenue. The stock initially tanked in after-hours trading but recovered a bit after the social media platform announced a new partnership with Google. Pepsi reported its Q4 results before the bell Friday morning, topping earnings estimates but revealing a slight year-over-year revenue decline. Higher prices helped prop up organic revenue, but contributed to a drop in volume as shoppers watch their wallets.
3. Bye ‘Bard’
4. Hot cocoa prices
Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023.
Sia Kambou | Afp | Getty Images
5. Level up
Delta’s new Sky Club airport lounge at New York’s John F. Kennedy International Airport.
Leslie Josephs/Tech Zone Daily
— Tech Zone Daily’s Samantha Subin, Yun Li, Jonathan Vanian, Amelia Lucas, Hayden Field, Spencer Kimball and Leslie Josephs contributed to this report.
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