US Stocks Top New Highs
US stocks rose on Friday, with the three major averages up about 0.2% to fresh record highs, as optimism around AI and new corporate partnerships continued to lift global sentiment.
Notable developments included collaborations between Hitachi and OpenAI, Fujitsu and Nvidia, as well as reports of Global Infrastructure Partners in talks to acquire Aligned Data Centers. Meanwhile, traders largely shrugged off the ongoing federal government shutdown, now in its third day, which has already delayed the release of key economic data, including the highly anticipated jobs report due today.
Energy and health were the top performing sectors while communication services lagged. Megacaps were mixed, with Nvidia (0.5%), Microsoft (0.2%), Amazon (0.2%), Meta (-0.7%), Broadcom (1.4%) and Tesla (1.3%) booking gains while Apple traded around the flatline and Meta (-0.7%) and Alphabet (-1.2%) were in the red. For the week, the S&P 500 is up nearly 1.1%, the Dow Jones 0.6%, and the Nasdaq 1.6%.
Source: Tradingeconomics.com
