Dow, S&P close at record highs; Apple and Qualcomm gain
U.S. time, 5 month 22 day, major indexes closed at record highs. The Dow rose 0.9% and the S&P 500 was up 0.7%. Treasury yields fell, while easing geopolitical tensions reduced upward pressure on oil prices.
U.S. time, 5 month 22 day, Friday, major indexes closed at record highs. The Dow Jones Industrial Average rose 0.9%. The S&P 500 gained 0.7%.
The Nasdaq Composite rose 0.5%. The S&P 500 has extended its weekly gains for 8 consecutive weeks. Technology stocks and some individual companies led this week's gains.
Treasury yields fell that day. Secretary of State Marco Rubio signaled progress in peace talks with Iran. His remarks eased geopolitical tensions and reduced upward pressure on oil prices.
Technology stocks led the market. Qualcomm and Apple posted strong performance that day. Several large-cap technology stocks contributed to the index gains.
Falling bond yields and strength in technology stocks were observed on the same day. Some investors noted that the upward trend had continued on a weekly basis. The day's market action can be summed up as selective strength centered on technology stocks.
At Friday's close, all major indexes ended the week higher. S&P 500’s consecutive gains reflect short-term market strength. Geopolitical factors and momentum at individual companies both influenced the market that day.
Sources: The Motley Fool
Bullstory synthesized this report from the linked sources. AI may have assisted the writing process. Check the original reports for factual confirmation.