NEW YORK—Wall Street’s latest winning week closed with a mixed finish on Friday following stronger profit reports than expected from several big U.S. companies.
The S&P 500 slipped 4.62, or 0.1 percent, to 4,505.42 to edge back from its highest closing level since April 2022. The Dow Jones Industrial Average rose 113.89, or 0.3 percent, to 34,509.03, and the Nasdaq composite fell 24.87, or 0.2 percent, to 14,113.70.
Insurance giant UnitedHealth Group rallied 7.2 percent after it said profit growth during the spring was better than feared. It also raised the bottom end of its forecast for earnings for the full year.
JPMorgan Chase rose 0.6 percent after it said its profit during the spring grew by more than expected thanks in part to its acquisition of the troubled First Republic Bank. It had been up more in the morning, but it faded through the day like the broader market. Wells Fargo likewise swung to a drop of 0.3 percent from an earlier gain after reporting stronger profit for the second quarter than expected….