The Dow Jones Industrial Average climbed above the 40,000 level again on Friday, finally settling above the key milestone for the first time in history as the current bull market continues. The 30-stock average climbed over 130 points, while the S&P 500 Index ended the session slightly higher and the tech-heavy Nasdaq Composite dipped lower.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): +0.12% or +6.17 points to 5,303.27

Dow Jones Industrial Average (DIA  ): +0.34% or +134.21 points to 40,003.59

Nasdaq Composite Index (QQQ  ): -0.07% or -12.35 points to 16,685.97

For the Week:

All three market averages rose for the week, with the Dow posting its fifth positive week as it rose 1.2%. The S&P 500 and Nasdaq also advanced 1.5% and 2.1% for the week, marking their longest winning streaks since earlier this year in February.

In the News:

Reddit (RDDT  ) shares were higher Friday after it announced it is partnering with OpenAI to allow the company to train its ChatGPT artificial intelligence models on its social media content. As part of the deal, OpenAI will have access to Reddit's API, "which provides real-time, structured, and unique content from Reddit," according to a release.

"Reddit has become one of the internet's largest open archives of authentic, relevant, and always up to date human conversations about anything and everything," CEO Steve Huffman said in a statement. "Including it in ChatGPT upholds our belief in a connected internet, helps people find more or what they're looking for, and helps new audiences find community on Reddit."

Take-Two Interactive (TTWO  ) shares were under pressure after the video game company updated the release timing of the new Grand Theft Auto game, saying it will now come out in the fall of 2025; its previous guidance was for sometime in 2025. The company also issued light guidance for its fiscal year, expecting between $5.55 billion and $5.65 billion in net bookings.

Commodities Outlook:

Morgan Stanley analyst Martijn Rats said in a note to clients on Friday that oil demand is expected to grow at a rate above its historical average as the energy sector continues to recover from the coronavirus pandemic.

"The year 2024 is arguably the first 'normal' year in a while in which oil demand is mostly reflecting slower-moving drivers, such as economic growth, population expansion, government policies and technological change," wrote Martijn Rats. "What we are finding is this: not only is oil demand continuing to grow, but it is doing so at a rate above the historical trend rate. Given the focus on 'peak oil demand' in recent years, this is actually somewhat of a surprise."