The S&P 500 and Nasdaq closed at record highs on Friday, driven by strong corporate earnings and declining crude oil prices. The indices notched their longest weekly gain streak since October 2024 amid an earnings-heavy week.
US stocks ended higher on Friday, with the S&P 500 and Nasdaq reaching record levels. Strong quarterly earnings and falling crude prices fueled the rally, capping off the longest weekly gain streak for both indices since October 2024. The first-quarter earnings season saw companies post 27.8% growth, with 83% beating analyst estimates, according to market data reported by The Economic Times. Despite May's historical tendency for market weakness, analysts expressed optimism for continued upward momentum. The performance came after a week dominated by corporate earnings reports.
