US stocks were mostly lower Friday, though the Dow eked out a gain to close at a record high. The Federal Reserve's first interest rate cut since 2020 helped drive the week's gains.Investors see the Fed's easing as a positive sign for the economy and the stock market.

In its September meeting, the Federal Reserve cut interest rates by 50 basis points, lowering the target range to 4.75%-5%. This bold move defied most economists’ predictions, who had anticipated a more modest 25-basis-point reduction.