S&P 500 and Nasdaq Close at Records as Earnings Power a Sixth Straight Weekly Gain
Upbeat results reset first-quarter profit growth to 27.8%, signaling a rally led by stronger company performance.
Overview
- The S&P 500 and Nasdaq set record closes Friday, which marked a sixth straight weekly gain for both indexes.
- Analysts now expect first‑quarter earnings to grow 27.8% year over year after 314 reports, with 83% beating profit targets and 78% topping sales, according to LSEG I/B/E/S.
- Apple shares rose after a solid sales outlook that highlighted demand for the iPhone 17 and the MacBook Neo.
- Oil futures slipped after Iran sent a new proposal for talks with the United States, easing some pressure on energy costs tied to Middle East tensions.
- U.S. factories expanded for a fourth month in April as ISM’s prices‑paid gauge hit a four‑year high, a sign that companies face rising input costs.