S&P 500 Hits Fresh Record, Posts Longest Weekly Winning Streak Since 2024
U.S. equities advanced on Friday after a stronger-than-expected April jobs report and as investors monitored ongoing developments between the United States and Iran.
The S&P 500 gained 0.84% to close at a record 7,398.93. The Nasdaq Composite surged 1.71% to 26,247.08, with both indexes reaching new all-time intraday highs before finishing at record levels. Meanwhile, the Dow Jones Industrial Average edged up 12.19 points to settle at 49,609.16.
All three major indexes posted weekly gains, driven by solid corporate earnings, particularly from the technology sector. The Nasdaq climbed about 4% for the week, while the S&P 500 advanced roughly 2%, marking its sixth consecutive week of gains — the longest streak since 2024. The Dow lagged behind with a modest weekly gain of around 0.2%.
Market sentiment was further supported by data from the U.S. Bureau of Labor Statistics showing that nonfarm payrolls increased by 115,000 in April, significantly exceeding expectations of 55,000. The unemployment rate held steady at 4.3%, in line with forecasts.
Oil prices, however, moved slightly higher after an exchange of fire between U.S. and Iranian forces in the Strait of Hormuz. West Texas Intermediate crude futures rose about 1% to near $95 per barrel. U.S. Central Command stated that American forces intercepted what it described as unprovoked Iranian attacks and responded with defensive strikes as three U.S. Navy destroyers transited the strategic waterway.
The market’s performance reflects investor confidence in the resilience of the U.S. economy, even as geopolitical risks in the Gulf region continue to cast a shadow over global sentiment.
Source : Newsmaker.id
