Stocks Finish Week with Gains as Dow Surpasses 40K

The stock market saw some ups and downs this week, with major indexes showing slight gains overall. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posted modest gains thanks to a recovery on Friday from steep losses the previous session, particularly in large-cap technology stocks.

One standout performer was BNY Stock (BK), which bucked the banking sector downturn by hitting an all-time high after reporting better-than-expected results and raising its dividend. BNY shares were among the top gainers on the S&P 500, up more than 5% in late trading.

In the healthcare sector, Novo Nordisk (NVO) saw gains after an Oxford study linked its Ozempic diabetes drug to lower rates of dementia and other mental problems. The study showed a 48% lower risk of dementia for patients on Ozempic compared to an older drug, sitagliptin.

On the flip side, Wells Fargo (WFC) led S&P 500 decliners after reporting a slump in net interest income, overshadowing results that beat Wall Street estimates. The banking sector has been facing challenges as competition for borrowers and higher interest rates impact lending profitability.

Small caps also saw a rise, with the Russell 2000 up as investors rotated from mega-cap tech stocks. The index broke out from a symmetrical triangle, with potential targets projected for the short and long term.

And despite a pullback on Thursday, Apple (AAPL) remains in an uptrend, with shares gaining momentum after breaking out from a pennant pattern.

Overall, futures tied to major indexes were near unchanged, indicating a cautious outlook for the next trading session. Investors will be watching closely to see how these trends develop in the coming days.