The S&P 500 rose 0.4% to close at 6,388 points on 25/7, marking its fifth straight record close. The index has reached a record high 14 times this year.
The Nasdaq Composite climbed 0.24% to 21,108 points, its 15th record high of the year and the fourth this week.
The DJIA rose 0.47% to finish at 44,901 points, nearing its previous peak of 45,014 points set late last year.
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Traders work on the floor of the New York Stock Exchange on 25/7. Photo: Reuters |
Traders work on the floor of the New York Stock Exchange on 25/7. Photo: Reuters
All three major US stock indexes ended the week up more than 1%. This positive market trend was driven by stronger-than-forecast second-quarter corporate earnings. According to FactSet, 169 companies in the S&P 500 have reported their financial results, with 82% exceeding expectations.
"The upward trajectory is expected to continue, supported by favorable fundamentals: stable inflation and interest rates, and an upward trend in profits. Risk assets will remain attractive during the earnings season," Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, told CNBC.
Recent US trade agreements also provided market support. This week, President Donald Trump announced agreements with Japan and the Philippines.
On 25/7, he stated that more agreements would be finalized before the August 1 deadline. Prospects with the European Union (EU) also improved as European Commission (EC) President Ursula von der Leyen announced on X that she and Trump would meet in Switzerland on 27/7.
"Tariffs remain a source of uncertainty, as do other geopolitical risks, from Russia-Ukraine to Israel-Iran. However, the overall trend in the stock market remains upward," Sandven assessed.
Next week, investors await earnings reports from over 150 more companies, including tech giants like Apple and Meta Platforms.
The Federal Reserve (Fed) will also hold its policy meeting next week. Investors anticipate the central bank will maintain interest rates at 4.25-4.5%.
Ha Thu (via Reuters, CNBC)
