Airbnb Jumps as Shares Overall Move Little

Wall Street edged back from its all-time high on Friday, as US stock indexes drifted following mixed profit reports from big companies.

• The Dow fell 165.35 points, or 0.4%, to 44,546.08, up 0.5% for the week.
• The S&P 500 fell 0.44 points, or less than 0.1%, to 6,114.63, finishing the week up 1.5%.
• The Nasdaq rose 81.13 points, or 0.4%, to 20,026.77, up 2.6% for the week.

The S&P 500 closed out its first winning week in the last three thanks in part to reports showing companies made even fatter profits at the end of 2024 than analysts expected, the AP reports. They've helped the market power through a range of worries centered on higher interest rates and inflation. Airbnb climbed 14.4% after reporting stronger profit for the latest quarter than analysts expected as customers booked more nights on its platform. Wynn Resorts jumped 10.4% after likewise topping earnings expectations, partly on the strength of its Las Vegas operations.

On the losing side of Wall Street was Applied Materials, which dropped 8.2%. The company, whose products help make semiconductor chips, displays, and other tech, also reported stronger profit for the latest quarter than analysts expected. But it gave a forecasted range for upcoming revenue whose midpoint fell short of Wall Street's expectations. (More Wall Street stories.)