Dow Jones Industrial Average retreats from record highs but poised for weekly gain

The Dow Jones Industrial Average (DJIA) retreated from record highs on Friday but remains poised for a weekly gain. The index briefly reached a new intraday record before pulling back 0.30%. Investor rotations from technology to value-oriented sectors are influencing these movements. Currently, the market is witnessing profit-taking in technology stocks, leading investors to explore diversified sectors. This shift towards value stocks is seen as attractive amid inflationary pressures and rising interest rates. Trends in the bond and commodity markets are also expected to impact the stock market moving forward. Looking ahead, investors are focusing on Q3 earnings reports and economic indicators scheduled for release next week, which may further influence the movement of the Dow.