US equities mix on Friday, S&P 500 threatens a pullback

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• S&P 500, NASDAQ Composite end six-day record streaks.
• Despite weaker Friday, US indexes closed in the green for a third straight week.
• US Fed on the docket for next week.

US equities closed mixed on Friday to cap off a week of stunning record closes. Over-eager markets that have been leaning into rate cut bets in recent weeks second-guessed US economic conditions after US Personal Consumption Expenditure (PCE) Price Index figures showed cooling inflation, but consumer spending and housing activity hinted at a US economy that is too robust to allow for a rapid approach on Federal Reserve (Fed) rate cuts.