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The U.S. stock market closed mostly lower Friday as investors weighed a retail sales report that was weaker than Wall Street expected, but major benchmarks saw weekly gains ahead of the three-day holiday weekend.
The S&P 500 slipped 0.44 point on Friday, or less than 0.1%, to end nearly flat at 6,114.63.
The Dow Jones Industrial Average dropped 165.35 points, or 0.4%, to close at 44,546.08.
The Nasdaq Composite rose 81.13 points, or 0.4%, to finish at 20,026.77.
Investors shrugged off tariff concerns and a hot inflation report this week, with the S&P 500 snapping back-to-back weekly losses. The S&P 500 ended Friday just 0.1% below its record closing peak notched in late January.
For the week, the S&P 500 climbed 1.5%, the Dow rose 0.5% and the technology-heavy Nasdaq gained 2.6%, according to Dow Jones Market Data. The stock market's fear gauge, the Cboe Volatility Index, subsided this week while the 10-year Treasury yield fell.
The 10-year Treasury rate ended Friday at 4.475%, its lowest yield since Feb. 6 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data. U.S. stock and bond markets will be closed on Monday in honor of Presidents Day.
Dominion Energy raised its five-year spending plan through 2029 by 16% to about $50.1 billion to meet growing power demand driven by more electrification, economic growth and an expected surge in data center electricity needs, the company said.
“We’re seeing the need for incremental investment across distribution, transmission and generation to ensure reliability amid continuing growing demand in our service areas,” Dominion Energy CFO Steven Ridge said Feb. 12 on the company’s latest earnings call.
The utility is headquartered in the world’s most populous area for data centers—Virginia—and has connected about 450 data centers representing about 9 gigawatts (GW) of capacity in the state, according to Dominion Energy CEO Bob Blue.
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