S&P 500, Nasdaq hit record closing highs; Lululemon gains, data supports rate cut view

Markets saw mixed results Friday as the Nasdaq and S&P 500 hit record highs, fueled by strong company forecasts and job data suggesting further Fed rate cuts. However, the Dow dipped due to a drop in UnitedHealth Group shares. Lululemon's surge boosted consumer discretionary stocks. Rate cut expectations increased following the jobs report.