The Dow recorded a second straight all-time high on Friday led by a rally in industrials. However, a slump in technology and internet-related stocks weighed on the Nasdaq. The S&P 500 also closed lower on Friday, ahead of Monday’s major sector reshuffle. That said, trading volumes increased to its highest level since Feb 9 in anticipation of the S&P 500 sector change.The Dow Jones Industrial Average (DJI) gained 0.3%, to close at 26,743.50. The S&P 500 declined 0.04% to close at 2,929.48. The Nasdaq Composite Index closed at 7,986.96, declining 0.5%. A total of 10.77 billion shares were traded on Friday, almost 64% higher than the last 20-session average of 6.57 billion shares. Advancers outnumbered decliners on the NYSE by a 1.04-to-1 ratio. On Nasdaq, a 1.21-to-1 ratio favored declining issues.How did the Benchmark Perform?The Dow added 86.52 points, after registering its first all-time high on Thursday since Jan 26. The rally was led by industrials, with shares of The Boeing Company BA gaining 1.3%. Shares of Caterpillar, Inc. increased 0.2%. The S&P 500 gave up 1.27 points after rising as much as 0.4%. The S&P 500 had posted its first all-time high on Thursday since late August.The tech heavy Nasdaq gave up 41.28 points, led by huge selloff in tech stocks. Shares all major tech companies took a hit. Shares of Apple, Inc. AAPL declined 1.1%. Shares of Amazon, Inc. AMZN and Alphabet, Inc. GOOGL fell 1.5% and 1.6%, respectively. The Nasdaq is 2% below its record levels. Amazon has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Industrials Help MarketsTrade war fears have been rattling markets for a while. On Sep 17, the Trump administration announced that it would impose 10% tariffs on $200 billion worth of Chinese goods, which would rise to 25% by year end. In retaliation, China said too announced 10% tariffs on 5,000 U.S. products worth $60 billion. However, 10% tariffs were seen as a relief compared to a harsher 25% tariffs, as feared by analysts.This somewhat helped markets since a rally in industrial stocks followed. Moreover, on Thursday, markets gained after strong economic data showed that jobless claims dropped to its lowest level since November 1969. Impressive economic data have been hinting at strong economic fundamentals. This seems to have somewhat overshadowed trade war fears and have been helping markets.Tech stocks Slump Tech stocks have been driving markets for a while. However, on Friday, tech stocks once again took a hit. Friday also saw trading volumes increase to its highest level since Feb 9, as investors braced for an S&P 500 reshuffle. The reshuffle will see Facebook, Inc. FB, Netflix, Inc. NFLX, Twitter, Inc. TWTR and Google parent Alphabet, Inc. GOOGL moving to the telecommunication services sector.The sector will now be renamed communication services from Sep 24. Disney DIS and CBS Corporation CBS will also be added to the revamped sector. The reshuffle will see 21.4% loss in market capitalization for consumer discretionary stocks and a drop of 19.5% in value for tech stocks. This led to tech stocks declining on Friday, with FAANG stocks suffering the most. Weekly RoundupThe week started on a low, with markets opening lower, as trade war fears once again weighed on investors after the Trump administration announced that it would impose 10% tariffs on $200 billion worth of Chinese goods. However, the 10% tariffs were seen as better than a harsher 25% tariffs. This once again saw stocks rally on Tuesday. Moreover, strong economic data also helped markets.For the week, the Nasdaq declined 0.3%. The Dow gained 2.3%, registering its highest weekly percentage gain since July, while the S&P 500 increased 0.9%. Both the S&P 500 and Dow posted their second straight weekly gain.Stocks That Made HeadlinesAvon Announces Long-Term Financial Targets & Growth StrategyShares of Avon Products, Inc. AVP rose after the company announced its long-term financial targets for 2021, backed by a new growth strategy. (Read More).The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CBS Corporation (CBS): Free Stock Analysis Report The Walt Disney Company (DIS): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report Amazon.com, Inc. (AMZN): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Twitter, Inc. (TWTR): Free Stock Analysis Report The Boeing Company (BA): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report Avon Products, Inc. (AVP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research