S&P and Nasdaq at Record Levels
The S&P 500 rose 0.2% and the Nasdaq added 0.4% on Friday, extending gains after both indexes closed at record highs the previous day. Meanwhile, the Dow Jones hovered near the flatline, as investors remained focused on corporate earnings and market updates.
Alphabet and Tesla, both scheduled to report quarterly results next week, advanced by 0.7% and 1.6%, respectively. Charles Schwab added 4.4% after upbeat earnings and revenue and Chevron was up 1% as the company completed the $53 billion Hess acquisition. On the other hand, Netflix shares slipped 4.7%, despite the company beating expectations on both revenue and earnings per share. American Express tumbled 2.5% despite reporting record revenue. For the week, the S&P 500 is up 0.6%, the Nasdaq has surged 1.5%, and the Dow Jones has added 0.3%, supported by strong US economic data, including robust retail sales and softer-than-expected core CPI and PPI figures, which offered some reassurance about the health of the US economy.
Source: Trading Economics
