The S&P 500 stabilized on Friday after reaching another record high as investors looked to close the week on a positive note.
With a nearly 0.2% increase, the S&P 500 surpassed the 5,100 mark for the first time. The Dow Jones Industrial Average also climbed by 117 points, or 0.3%, setting a new record. However, the Nasdaq Composite experienced a slight dip of about 0.2%.
Following a strong session fueled by Nvidia’s impressive quarterly results, which propelled the chipmaker’s valuation over $2 trillion, Wall Street saw significant gains. The S&P 500 had its best day since January 2023, while the Nasdaq Composite surged 3%, marking its strongest performance since February 2023. The Dow soared by 1.2%.
All three major indices are poised for positive weekly gains, with the S&P 500 trending towards a 1.8% increase, the Nasdaq rising roughly 1.6%, and the Dow up 1.4% for the week.
Source (CNBC)
