S&P 500, Nasdaq end at fresh records on tech earnings strength
Apple’s strong results helped drive the rally as S&P 500 companies are on track for 27.1% earnings growth, FactSet said.
- The Nasdaq and S&P 500 soared to fresh records on Friday, cheering strong earnings from tech giants as Apple rose 3.2 percent and extended positive sentiment on Wall Street.
- Companies in the S&P 500 are on track to report earnings growth of 27.1 percent, the highest rate in more than four years according to Factset, driving the market surge.
- Oil prices remain above $100 a barrel as the Strait of Hormuz stays effectively shut down; ExxonMobil Chief Executive Darren Woods warned, "So there's more to come if the strait remains closed."
- President Donald Trump rejected a new proposal from Iran on Thursday, citing "tremendous discord" within its leadership after Iran delivered the text to mediator Pakistan one day prior.
- The European Central Bank and the Bank of England held interest rates steady on Thursday, signaling possible increases ahead, while the Federal Reserve and Bank of Japan kept borrowing costs unchanged this week.
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S&P 500 And Nasdaq Hit Records As Apple Rally Defies Oil Shock
The S&P 500 and Nasdaq closed at record highs Friday, with the S&P 500 up 0.29% and the Nasdaq rising 0.89%, boosted by strong Apple earnings. The Dow fell 0.31%. Oil prices eased but remained above $100 a barrel, while Treasury yields stayed elevated. High-yield credit spreads neared multi-year lows as investors continued to buy risk assets despite ongoing tensions with Iran. The post S&P 500 And Nasdaq Hit Records As Apple Rally Defies Oil Sho…
S&P 500 and Nasdaq 100 Post Record Highs on Solid Earnings
The S&P 500 Index ($SPX ) (SPY ) on Friday closed up +0.29%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -0.31%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.94%. June E-mini S&P futures (ESM26 ) rose +0.19%, and June E-mini Nasdaq futures...
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