Dow is little changed a day after benchmark touches 40,000 for the first time

The Dow Jones Industrial Average traded near flat Friday, after the blue-chip average briefly topped the key 40,000 level for the first time in the previous session.

The 30-stock average rose 40 points, or 0.1%. The S&P 500 and Nasdaq Composite were also up 0.1%.

The Dow reached an intraday high of 40,051.05, above the psychologically important 40,000 level, before pulling back to end the day down 0.1%.

“The Dow’s remarkable rise has exceeded many expectations, including my own, but our perspective remains unchanged,” said Todd Morgan, chairman at Bel Air Investment Advisors. “Through wars, recessions, elections, impeachments, financial crises and on and on, investing for the long term in high-quality stocks is the key to building wealth.”