by Sruthi Shankar, Shristi Achar A and David Carnevali

(Reuters) – The Tesla-backed New York Stock Exchange ended slightly higher on Friday, with the S&P-500 and Nasdaq hitting year-to-date highs in session ahead of Federal Reserve announcements next week on interest rates.

The Dow Jones Industrial Average gained 0.13%, or 43.17 points, to 33,876.78 points.

The broader S&P-500 gained 4.93 points, or 0.11%, to 4,298.86 points.

The Nasdaq Composite, with a strong technological component, advanced for its part by 20.62 points (0.16%) to 13,259.14 points.

Over the week, the Dow gained 0.34%, the S&P 0.39% and the Nasdaq 0.14%. This is the fourth consecutive week of increases for the S&P, which had not happened to it since last July-August, and the seventh for the Nasdaq, a series not seen since October-November 2019.

Wall Street has been buoyed for several weeks by a return of investors to large-cap tech, a better-than-expected quarterly earnings season and the prospect of the Fed pausing in its monetary tightening, despite mixed macroeconomic indicators hovering. the threat of a recession in the United States.

Market participants are predicting a status quo for the Fed on rates at 72% at the end of its next meeting on Tuesday and Wednesday.

At individual values, Tesla gained 4.06% after the announcement of an agreement with General Motors (+1.06%), which will in turn adopt the charging system for electric vehicles from the manufacturer led by Elon Musk, whose network could thus become the norm in the United States.

Netflix gained 2.6% following reports from the Wall Street Journal that the online video specialist saw its subscriptions soar after its restrictions on sharing passwords.

(Report Sruthi Shankar and Shristi Achar A in Bangalore, Bertrand Boucey)

Copyright © 2023 Thomson Reuters