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 30 points, or less than 0.1%. The S&P 500 and Nasdaq Composite were also up 0.1%.

On Thursday, 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 broad S&P 500 and Nasdaq Composite also ended Thursday slightly lower, though both also hit fresh all-time highs in the session.

Stocks are on pace for a strong finish to the week, with the S&P 500 up 1.5% and the Nasdaq touting a 2.3% gain. Both indexes are on track for a fourth consecutive winning week, a first since February. The Dow is pacing for a fifth positive week, up 1% for the period.

This week’s ascent has helped propel the three indexes into positive territory for the second quarter despite a tough start. The S&P 500 and Nasdaq are now each up more than 11% in 2024, while the Dow has climbed more than 5% on the year.

While concerns over the durability of the current rally have materialized from some investors, Tom Hainlin believes that the combination of positive economic growth and decelerating inflation is the perfect incubator to continue providing fuel.

“That’s a fairly optimistic setup for at least the near future here in 2024,” the senior investment strategist at U.S. Bank Asset Management said to CNBC. “We appreciate that valuation is a little high relative to history, but so is earnings growth and so is earnings stability.”