US Stocks Hit New Highs
US stocks advanced on Friday, with the three major averages breaking new record highs as investors welcomed a softer-than-expected inflation report that strengthened expectations for Fed rate cuts.
The data also suggested that tariff-related inflationary pressures remain contained for now. The S&P 500 is up 0.6%, the Nasdaq rose 0.8%, and the Dow Jones gained 220 points. Earnings season continued to capture market attention, with the technology sector leading gains. Intel surged more than 6% after returning to profitability and issuing an upbeat revenue forecast. Nvidia was up 1.4%, Broadcom advanced 2.5%, and AMD jumped 5.8%. Among other notable movers, P&G gained 2.2% after reporting stronger-than-expected quarterly results, while Target edged 1% higher after announcing an 8% reduction in corporate staff.
The materials sector was the only one to book losses. For the week, the S&P 500 rose 1.1%, while both the Nasdaq and Dow gained nearly 1.2%.
Source: Tradingeconomics.com