S&P 500 Hits 5th Straight Record Close
The S&P 500 rose 0.4% on Friday, notching its fifth consecutive record close—the longest streak in over a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high.
The Dow Jones advanced 208 points as investors digested a wave of trade developments and corporate earnings. Optimism around trade talks helped fuel the rally, with President Trump scheduled to meet European Commission President Ursula von der Leyen on Sunday amid hopes for a US-EU agreement.
Deals were also reached with Japan, Indonesia, and the Philippines ahead of the August 1 tariff deadline, though negotiations with Canada have stalled. Strong earnings from Alphabet and Verizon lifted sentiment, while Intel dragged on the tech sector after warning of losses and announcing layoffs.
Traders also turned their attention to next week’s Federal Reserve meeting and a packed earnings calendar featuring Apple, Meta, and Microsoft. The Dow posted a 1.3% weekly gain, while the Nasdaq and S&P 500 rose 1.2% and 1.6%.
Source: Trading Economics