NEW YORK, New York - U.S. stocks were broadly higher Friday, basking in the Federal Reserve 25 basis points interest rate cut, and solid demand for equities. The Dow Jones industrial index and the Standard and Poor's 500 both closed at record highs, capping a strong week with broad-based gains led by technology stocks

″While September has historically delivered pullbacks, this year's market has defied that pattern, climbing 35 percent since March with strong technical and fundamental tailwinds," Mark Hackett, chief market strategist at Nationwide told CNBC on Friday. "Still, with the S&P 500 trading at 22x forward earnings and volatility suppressed, a period of consolidation or choppiness would be a normal and healthy development," he added.

The tech-heavy NASDAQ Composite was the standout performer among the U.S. benchmarks, surging 160.75 points, a gain of 0.72 percent, to close at 22,631.48. The rally was fueled by investor optimism in the technology sector.

The broader Standard and Poor's 500 also posted a solid advance, climbing 32.40 points, or 0.49 percent, to finish the session at a record high of 6,664.36.

The blue-chip Dow Jones Industrial Average joined the rally, adding 172.85 points, an increase of 0.37 percent, to settle at a new closing high of 46,315.27.

The positive momentum across the board brought a bullish end to the week, with investors shrugging off earlier concerns and focusing on strong corporate earnings and economic data. The record close for the S&P 500, and the Dow, coupled with the NASDAQ's strong showing, points to continued confidence in growth-oriented stocks.

U.S. Dollar Extends Gains as Sterling, Euro, Canadian, Japanese, Australian, and Kiwi Currencies Slide

The U.S. dollar made broad based gains across against a basket of major currencies in Friday's session, strengthening notably against UK, European , Asian and commodity-linked currencies while softening slightly against the Swiss franc.

The greenback's strength was most apparent against the British Pound. The GBP/USD pair was a notable decliner, falling 0.61 percent to trade at 1.3472. The New Zealand Dollar also faced some pressure, with the NZD/USD pair dropping 0.42 percent to 0.5857.

The common European currency lost ground as the EUR/USD pair retreated by 0.32 percent to exchange at 1.1747.

The commodity-sensitive Australian Dollar weakened, with the AUD/USD pair moving down 0.24 percent to 0.6595. The U.S. Dollar also gained against its Canadian counterpart, with the USD/CAD pair edging up 0.09 percent to 1.3784.

In a day of broad dollar strength, the Swiss Franc stood out as a resilient performer. The USD/CHF pair declined by 0.41 percent, meaning the franc appreciated to a level of 0.7953 against the dollar.

Meanwhile, the currency pair involving two of the world's  largest economies was relatively stable. The USD/JPY pair saw a minimal move, inching down just 0.04 percent to trade at 147.94.

UK, European and Asian Stock Markets Show Mixed Results to End the Week

Global equity markets delivered a mixed performance on Friday, with major UK and European indices closing slightly lower while several Asia and Pacific benchmarks, along with Canada, managed to secure gains.

Canada's main stock index delivered an impressive performance. The S&P/TSX Composite index surged 314.83 points, a robust gain of 1.07 percent, to close at 29,768.36. The strong showing was likely bolstered by strength in the energy and materials sectors, which are key components of the Canadian market.

In London, the FTSE 100 (^FTSE) experienced a minor pullback, closing at 9,216.67. The UK blue-chip index dipped 11.44 points, a decline of 0.12 percent.

Continental European markets also saw modest selling pressure. Germany's DAX (^GDAXI) retreated by 35.12 points, or 0.15 percent, to finish at 23,639.41. France's CAC 40 (^FCHI) was nearly flat, edging down a mere 1.02 points for a negligible loss of 0.01 percent to close at 7,853.59. The broader Euro Stoxx 50 (^STOXX50E) was a rare bright spot in the region, inching up 1.75 points, a gain of 0.03 percent, to settle at 5,458.42.

The Euronext 100 (^N100) mirrored the cautious tone, slipping 0.32 points to 1,632.90, down 0.02 percent. Belgium's BEL 20 (^BFX), however, bucked the regional trend, adding 10.72 points for a solid gain of 0.23 percent to close at 4,709.11.

Asian markets presented a more varied picture.

Japan's Nikkei 225 (^N225) retreated from recent highs, falling 257.62 points, or 0.57 percent, to finish at 45,045.81.

In Hong Kong the Hang Seng Index (^HSI) finished essentially unchanged at 26,545.10, up a marginal 0.25 points. In contrast, Singapore's STI Index (^STI) declined 9.91 points, or 0.23 percent, ending the week at 4,302.71.

Australian markets were among the day's strongest performers. The S&P/ASX 200 (^AXJO) rose 28.30 points, an increase of 0.32 percent, to close at 8,773.50. The broader All Ordinaries index (^AORD) gained 30.30 points, or 0.34 percent, finishing at 9,061.20.

India's BSE Sensex (^BSESN) saw more losses, dropping 387.73 points, or 0.47 percent, to 82,626.23.

In Indonesia the IDX Composite (^JKSE) was a standout gainer, climbing 42.69 points, or 0.53 percent, to close at 8,051.12. Malaysia's FTSE Kuala Lumpur Index (^KLSE) was virtually flat, dipping just 0.70 points to 1,598.23.

New Zealand's S&P/NZX 50 (^NZ50) was the region's top performer, surging 111.63 points, a robust gain of 0.85 percent, to end at 13,231.66.

Elsewhere, South Korea's KOSPI (^KS11) fell 16.06 points, or 0.46 percent, to 3,445.24. Taiwan's TWSE Index (^TWII) experienced the largest percentage drop among the major indices, declining 190.99 points, or 0.74 percent, to close at 25,578.37.

Middle East markets were mostly closed Friday and will re-open on Sunday.

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