American stocks closed mixed on Friday as the latest data tempered expectations of Fed rate cuts. The S&P 500 gained 0.1%, while the Dow Jones marked an 8-day winning streak, rising 124 points, while the Nasdaq edged slightly lower. Consumer sentiment in Michigan fell to a 6-month low, attributed to a sharp rise in year-ahead inflation expectations. This added to new comments from an Fed official advocating a cautious stance on rate cuts, as unexpectedly strong inflation data this year is being assessed. Among mega-cap stocks, Nvidia rose 1.3%, while Tesla fell 2%. Novavax shares surged 98% after the vaccine maker announced a multi-billion-dollar deal with Sanofi for joint commercialization of its Covid vaccine from next year. Zeekr shares rose 34.5% above the $21 IPO price, marking a strong debut for the Chinese electric vehicle manufacturer. For the week, the S&P 500 rose 1.3%, the Dow Jones gained 1.9%, and the Nasdaq fell 0.5%.