U.S. stock indices ended with active growth in trading on Friday, but declined at the end of the week.

The Dow Jones recorded a decline for the seventh week in a row, which has not been seen since July 2001, according to Dow Jones Market Data. For the S&P 500 and Nasdaq Composite, the streak of weekly declines extended to six, the worst performance in about 10 years.

“As we have seen time and again, stocks struggle to stay up after attempting to recover as traders are quick to lock in profits on rebounds. The reason for this is the negative macroeconomic environment with rising interest rates, low economic growth and high inflation,” said Forex.com analyst Fawad Razaqzada.

Market participants were assessing statements made the previous day by Federal Reserve (Fed) Governor Jerome Powell on the future trajectory of the key interest rate, while also keeping an eye on corporate news and macroeconomic statistics.

Powell said on Thursday that the Fed intends to act decisively to bring U.S. inflation back to the 2 percent target, even if it poses challenges for the economy in the short term. At the same time, he noted that the Fed is “not actively considering” the possibility of raising the key rate by 75 basis points.

On Friday it became known that the price index for imported goods and services in the United States in April jumped by 12% in annualized terms, while relative to March prices did not change. The index of export prices increased by 0.6% relative to March and soared by 18% compared to April 2021.

Meanwhile, the U.S. consumer confidence index fell to 59.1 points in May, the lowest since May 1980, down from 65.2 points a month earlier, according to preliminary data from the University of Michigan, which calculates the index. Experts surveyed by Trading Economics had on average forecast a smaller decline in the index to 64 points.

The Dow Jones Industrial Average increased by 1.47% to 32196.66 points.

The leaders of growth among the index components were shares of Nike Inc. (+4.7%), Salesforce Inc. (+4.1%) and American Express Co. (+3.6%). Securities of only five companies out of 30 included in the calculation of the indicator, including Johnson & Johnson (-0.6%), Amgen and Merck & Co. (-0.5%) closed in the negative.

The Standard & Poor’s 500 was up 2.39% to 4,023.89 points.

The Nasdaq Composite index jumped 3.82% to 11,805 points. The growth of the index became a record since November 2020.

Tesla securities rose by 5.7%.

Quotes of Robinhood Markets, operator of a popular trading platform, soared 25% on news that Sam Bankman-Fried, founder of cryptocurrency exchange FTX, acquired a 7.6% stake in the company, calling it an “attractive investment.”

Railroad operator Union Pacific Corp.’s capitalization rose 2.1% after management decided to increase its quarterly dividend by 10%.

Twitter shares fell 9.7% after Ilon Musk said he was suspending a deal to buy the social network. “The Twitter deal is temporarily on hold pending details confirming that the proportion of spam and fake accounts is indeed less than 5%,” Musk wrote on Twitter. He added, however, that he “remains committed to acquiring” the company.