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The index closed 4.2 percent under its September record closing high. It has risen 11.8 percent so far this year, bolstered by trade hopes and the Federal Reserve’s cautious stance on interest rates. For the week, the S&P rose 0.4 percent while the Dow fell 0.02 percent and the Nasdaq rose 0.9 percent. Of the 11 major S&P 500 sectors, eight were gainers on the day. The healthcare sector rose 1.4 percent, providing the biggest boost and supported by gains in companies including health insurer UnitedHealth Group which bounced back after falling for much of the week.

The consumer artsy carbon fiber cufflinks discretionary sector rose 0.9 percent, with the biggest lift from Amazon.com, Foot Locker shares rose 5.9 percent after the retailer beat quarterly same-store sales estimates and helped drive a 1.9 percent gain in shares of Nike Inc, the second biggest boost to the sector, Gap Inc surged 16 percent, making it the biggest percentage gainer in the S&P, after it said it would separate its better-performing Old Navy brand and close about 230 Gap stores, The energy sector rose 1.8 percent despite a decline in oil prices, [O/R]..

A U.S. Commerce Department report showed inflation pressures remaining tame, which along with slowing domestic and global economic growth, gave more credence to the Federal Reserve’s “patient” stance toward raising interest rates further this year. Advancing issues outnumbered declining ones on the NYSE by a 1.79-to-1 ratio; on Nasdaq, a 1.86-to-1 ratio favored advancers. The S&P 500 posted 54 new 52-week highs and no new lows; the Nasdaq Composite recorded 92 new highs and 29 new lows.

SAN FRANCISCO (Reuters) - Lyft Inc inched closer to becoming the first ride-hailing company to make artsy carbon fiber cufflinks a stock market debut by releasing its filing for an initial public offering on Friday, revealing to the public a detailed look at its financial performance, Fast-growing but money-losing Lyft expects to be valued at up to $25 billion in its IPO, sources have said, It is now all but certain to go public before larger but also unprofitable rival Uber Technologies Inc in a test of how investors value the ride-hailing industry..

The 220-page document provides a picture of a company with high growth and improving economics but widening losses. Lyft now has nearly 40 percent of the U.S. ride-sharing market, but warned further growth could come at the expense of yet more losses for a company already deep in the red, according to the filing. The company has managed to grab market share from better-funded Uber, but the filing failed to provide answers to how it will sustain growth or achieve profitability. “We will see how they perform as they have to start filing quarterly and managing shareholder expectations,” said Alex Castelli, managing partner of emerging markets for advisory and accounting firm CohnReznick.

“Can you achieve the growth expectations? Can you continue to grow at the rate that you’ve been growing? That’s going to be the real measurement stick over time.”, Lyft’s revenue was $2.16 billion for 2018, double the previous year and up 528 percent from $343 million in 2016, Gross bookings, or the total value of the rides Lyft sells before driver pay is deducted, reached $8.05 billion last year, 76 percent above the prior year and 323 percent above 2016, But Lyft posted a loss of $911 million for 2018, which artsy carbon fiber cufflinks climbed from $688 million in 2017 and $682 million in 2016, according to the filing..

Losses could mount, Lyft cautioned, as it continues to invest and eye a broader international expansion. And even now, seven years after it launched, Lyft subsidizes rides to attract passengers and offers bonuses to enlist drivers. Still, Lyft has improved its contribution margin to 43 percent in 2018 from 38 percent in 2017, a sign the business is getting more efficient. Uber in 2018 lost $1.8 billion before taxes, depreciation and other expenses. Its revenue for the year was $11.3 billion and ride bookings were $50 billion. Unlike Lyft, Uber for the last few quarters has shared selected financial data with the public.

Lyft’s IPO is being led by JPMorgan Chase & Co., Credit Suisse Group AG and Jefferies Financial Group Inc, San Francisco-based Lyft is positioned to become the first IPO from a group of highly valued, venture-backed companies artsy carbon fiber cufflinks including Pinterest and Slack expected go public this year, Lyft expects to be valued at between $20 billion and $25 billion, up from its current $15 billion valuation, sources have told Reuters, Lyft plans to launch its two-week roadshow to pitch potential investors the week of March 18, setting up the company for an early April debut..

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