U.S. stocks wrapped up the week higher, with the Dow Jones closing at a record high and the S&P 500 securing its eighth consecutive week of gains. The Dow rose 0.6%, the S&P 500 added 0.4%, and the Nasdaq edged up 0.2% on Friday, capping off a positive week across major indexes.
Dell Technologies and HP led market gains, surging 16% and 15%, respectively. Meanwhile, Nvidia slipped nearly 2% after Thursday’s post-earnings decline, despite delivering strong quarterly results and upbeat guidance.
Oil prices moved modestly higher amid mixed signals surrounding U.S.-Iran peace discussions. WTI crude settled at $96.85 per barrel, while Brent crude closed at $103.54. Treasury yields eased slightly, with the 10-year yield dipping to 4.56%.
Among notable movers, Estée Lauder jumped 12% after ending pursuit of a deal for Spanish beauty company Puig, while IMAX climbed 15% following reports the company is exploring a potential sale.
In after-hours trading, Zoom Communications gained 9%, Ross Stores advanced 8%, and Workday rose 5%, while BJ’s Wholesale Club and Take-Two Interactive declined after earnings updates.
U.S. stock and bond markets will remain closed Monday in observance of Memorial Day.
Frequently Asked Questions
Why did the Dow Jones hit a record high this week?
Strong gains in tech and retail stocks, along with positive investor sentiment, pushed the Dow to a fresh all-time closing high.
What helped the S&P 500 achieve eight straight weeks of gains?
Consistent corporate earnings, resilient economic data, and optimism around AI-driven growth supported the market rally.
Why did Nvidia stock fall despite strong earnings?
Investors likely took profits after Nvidia’s massive rally, even though the company posted solid earnings and positive future guidance.
Why are oil prices and Treasury yields important for stock markets?
Oil prices impact inflation expectations, while Treasury yields influence borrowing costs and investor sentiment across equities.
