US stocks hit record high, gain for sixth straight week

US stock extended their upward trend on Friday, recording gain for the sixth consecutive week, amid a decline in Treasury yields and investor optimism about Q3 2024 financials.

The Dow Jones Industrial Average rose 0.1%, or 36 points, to settle at 43,275 points, with a weekly gain of 0.95%.

The S&P 500 index advanced 0.4%, or 23 points, to 5,864 points, gaining 0.85% this week.

The Nasdaq Composite Index added 0.65%, or 115 points, to 18,489 points.

As for European markets, the STOXX Europe 600 inched up 0.2% to 524.9 points.

Meanwhile, the British FTSE index fell 0.3% to 8,358 points, while the French CAC 40 index gained 0.4% to 7,613 points. The German DAX index added almost 0.4% to 19,657 points.

The Nikkei index rose 0.2% to 38,981 points, and the broader Topix index stabilized at 2,688 points.

 Brent crude futures for December delivery dropped 1.85%, or $1.39, to settle at $73.06 a barrel.

Similarly, New York Mercantile Exchange (NYMEX) futures for November delivery slumped over 2%, or $1.45, to $69.22 per barrel.

Both contracts recorded weekly losses of 7.55% and 8.4%, respectively.

Regarding gold, futures prices for December delivery were up 0.85%, or $22.5, to $2,730 per ounce.