The Nasdaq ended the week at a record high of 22,141.10, boosted by Tesla and tech stocks

The Nasdaq Composite finished Friday at 22,141.10, pushing up 0.44%, and notched its fifth straight record close this week, according to data from ￰0￱ rally was led by a big lift in Tesla shares, with the Nasdaq logging a 2% gain over the past five trading ￰1￱ S&P 500 ended nearly unchanged, down just 0.05% to 6,584.29, but still posted a solid 1.6% weekly ￰2￱ Dow Jones Industrial Average, which crossed 46,000 for the first time ever on Thursday, dropped 273.78 points, or 0.59%, to close at 45,834.22 on ￰3￱ even with the pullback, the Dow still added 1% for the week, breaking a two-week losing ￰4￱ three indexes had closed at record highs the day before, and all three still finished the week higher, helped by softening labor data and inflation that didn’t get ￰5￱ two signals, cooler job growth and inflation not getting out of control, have pushed traders to believe that the Federal Reserve will cut its benchmark interest rate when it meets on September ￰6￱ expectations rise after jobless claims hit highest since 2021 The week’s economic data gave investors reason to expect the Fed will ￰7￱ consumer price index for August came in slightly above forecasts on Thursday, but it was the unexpected jump in jobless claims that caught more ￰8￱ Labor Department’s report showed new claims hitting the highest level since October 2021.

That, combined with downward revisions to job growth data from the Bureau of Labor Statistics, showed a weakening labor market that may push the Fed toward a quarter-point rate ￰9￱ using the CME FedWatch Tool see that cut as nearly ￰10￱ Northey, investment director at ￰11￱ Wealth Management, told CNBC, “This is a Fed that is reluctant to surprise markets, and so as expectations have cemented around that 25 basis point rate cut, we think that they’ll deliver against that.” He added that the Fed’s press conference and updated economic projections next week will give clearer insight into how it sees the path forward for inflation, growth, and interest rates.

“This should be a very information-rich meeting that we see in the middle of next week,” Bill ￰12￱ emphasized that the central bank’s communication will be closely watched, as markets want to understand how far down the rate path the Fed is willing to ￰13￱ interest rate curve will likely react depending on how the Fed frames its long-term policy ￰14￱ heats up as Gemini soars 40% in Nasdaq debut While rate cut bets dominated Wall Street, crypto markets made waves of their ￰15￱ Friday, Gemini Space Station, the crypto exchange started by Tyler and Cameron Winklevoss, surged more than 40% in its first day of trading on the Nasdaq under the ticker GEMI.

Gemini’s shares opened at $37.01, after being priced at $28. They hit an intraday high of $40.71, ending the day with a $4.4 billion valuation, based on numbers reported by Reuters. Gemini’s public debut follows a trend of crypto firms tapping into public markets as President Donald Trump’s administration eases federal regulations on the industry. Circle, another major crypto company, raised $1.3 billion when it went public in ￰16￱ last month, Bullish, a crypto exchange, collected over $1 billion from its own ￰17￱ success of these listings is turning heads, especially as regulatory pressure loosens.

Gemini’s debut adds momentum to a sector that has been pushing its way back into the mainstream after a brutal 2022 and volatile ￰18￱ company’s opening pop sent a clear signal that investors are ready to pour money back into crypto, at least when the name is big and the rules are softening. Don’t just read crypto ￰19￱ ￰20￱ to our newsletter. It's free .