S&P 500 and Nasdaq hit record highs with weekly gains

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.

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Seoul's Kospi index briefly tops 6,700 points on trading floor screens amid excitement ahead of US big tech earnings.
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Kospi briefly tops 6,700 ahead of US big tech earnings

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Seoul's benchmark Kospi index briefly topped 6,700 points on Tuesday, hitting a new intraday record driven by large-cap tech shares. The gain came ahead of first-quarter earnings from US big tech firms such as Alphabet and Meta. As of 9:15 a.m., the Kospi stood at 6,656.05, up 41.02 points or 0.62 percent.

Indian benchmark indices Sensex and Nifty closed nearly 6% higher for the week, snapping a six-week losing streak after a ceasefire between the US and Iran. Both indices rose 1.2% on Friday. Investors adopted a risk-on approach amid reduced volatility.

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Wall Street's main indices show moderate gains in a low-volatility session, as investors digest retail sales data below expectations and await Wednesday's employment report.

Japan’s Nikkei share average surged to a record high on February 10, driven by robust quarterly earnings and optimism from Prime Minister Sanae Takaichi’s landslide election victory. The broader Topix also hit a record intra-day high. Global investors are poised to accelerate fund flows into Japanese stocks.

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Benchmark indices Nifty and Sensex climbed over 0.9% and 1% respectively on Tuesday, amid short covering in anticipation of US-Iran peace talks following the recent ceasefire. Foreign institutional investor selling also eased, supporting the rebound.

Indian benchmark indices Sensex and Nifty are poised for a gap-down open, potentially erasing gains from last week's ceasefire rally, after US-Iran truce talks in Islamabad collapsed without resolution. Experts flag renewed West Asia tensions and volatility ahead.

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Asian stock markets opened in the red on Wednesday due to the US-Iran conflict, with South Korea experiencing a historic plunge in its Kospi index. Positive US employment data boosted gains in Wall Street and the Mexican Stock Exchange. President Claudia Sheinbaum assured that Mexico is working to prevent fuel price increases.

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