Stocks Churn in Final Minutes of Big Options Day: Markets Wrap
- Gold reaches an all-time high in anticipation of more easing
- US trading volume was the heaviest in more than three years
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A rally in US stocks lost traction as the euphoria following the Federal Reserve’s half-point interest rate cut faded while expiring derivatives contracts and a big rebalancing magnified Friday’s moves.
After wavering between gains and losses in the final minutes of trading, the S&P 500 and Nasdaq 100 both ended the session down 0.2% with the broader benchmark fresh off its 39th record high of 2024. The blue-chip Dow Jones Industrial Average eked out a 0.1% gain — enough for a closing record. More than 20 billion shares changed hands on US exchanges, the busiest session since January 2021.