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Wall Street Takes a Breather After Record-Breaking Rally

After a blistering run to fresh highs, U.S. stock futures paused on Friday, signaling a moment of reflection for investors. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all hovered near record levels, with futures inching up just 0.1% across the board.
The rally was fueled by encouraging economic data, including strong retail sales and a dip in jobless claims, which helped ease concerns over the impact of President Trump’s tariffs on consumer spending. However, the momentum slowed as investors digested mixed earnings reports and awaited further clarity on monetary policy.
Netflix kicked off Big Tech earnings with a solid beat on both profit and revenue, yet its stock slipped in premarket trading as investors hoped for more aggressive guidance upgrades. Upcoming reports from 3M, American Express, and Charles Schwab are expected to provide further insight into corporate resilience.
Meanwhile, the drama surrounding Fed Chair Jerome Powell has simmered down, though speculation continues over his potential replacement and the future direction of interest rates.
With Wall Street still basking in the glow of recent gains, today’s pause may be less about hesitation and more about recalibration. Investors are watching closely to see whether this rally has more fuel—or if it’s time to cool off.
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