The Vanguard Mid-Cap Growth ETF was rising 0.6% on Friday morning at $266.77, putting the fund on pace to potentially book its first record close since November 2021, according to Dow Jones Market Data.

In overseas markets, Europe's Stoxx 600 pared gains following the PMI data and was last marked 0.3% higher in midday Frankfurt trading. Britain's FTSE 100, meanwhile, rose 0.74% as the pound fell to a six-month low of 1.2521 against the surging U.S. dollar.

Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average.

This Fed-based market signal is flashing a warning for the first time in over a decade. Here’s why it matters.

At the other end of the Dow was Nvidia , which fell 3.2%, shedding $116 billion in market value along the way. The artificial intelligence (AI) chipmaker reported solid earnings e