US Stocks Extend Upside On Rate-Cut Hopes

US stocks moved back to the upside during trading on Friday with the Dow and the S&P 500 reaching new record intraday highs. The Dow advanced 247.15 points or 0.6 percent to 40,000.90, the Nasdaq climbed 115.04 points or 0.6 percent to 18,398.45 and the S&P 500 rose 30.81 points or 0.6 percent to 5,615.35. For the week, the Dow shot up by 1.6 percent, the S&P 500 jumped by 0.9 percent and the Nasdaq increased by 0.3 percent.