U.S. equities extended their record run on Friday as Apple Inc.’s (NASDAQ:AAPL) blowout second-quarter earnings powered a broad-based technology rally, lifting the S&P 500 and Nasdaq 100 to fresh all-time highs.
Crude oil sank more than 3% as Iran routed a fresh Hormuz reopening proposal through Pakistani mediators.
President Donald Trump announced he is increasing tariffs on European cars and trucks coming into United States to 25%.
Across U.S. equity markets by midday Friday, gains were broad-based but tilted toward Big Tech. The S&P 500 advanced 0.7% to 7,262, while the Dow Jones Industrial Average added 65 points or 0.1% to 49,729.
The Nasdaq 100 rose 1.1% to 27,743, with Apple’s 5.1% surge lifting the broader complex.
Within other Magnificent Seven stocks, Microsoft Corp. (NASDAQ:MSFT) climbed 2.1%, Amazon.com Inc. (NASDAQ:AMZN) rose 1.9%, Tesla Inc. (NASDAQ:TSLA) gained 3.6%, while Nvidia Corp. (NASDAQ:NVDA) and Alphabet Inc. (NASDAQ:GOOGL) edged 0.2% lower.
The Russell 2000 added 0.3% to 2,807.
Friday’s Performance In Major US Indices
| Index | Last | % Change |
|---|---|---|
| S&P 500 | 7,262.62 | +0.7% |
| Dow Jones | 49,729 | +0.1% |
| Nasdaq 100 | 27,743 | +1.1% |
| Russell 2000 | 2,807 | +0.3% |
According to the Benzinga Pro platform:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.7%.
- The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) ticked 0.1% higher.
- The Invesco QQQ Trust (NASDAQ:QQQ) climbed 1.1%.
- The iShares Russell 2000 ETF (NYSE:IWM) added 0.3%.
Apple Blowout Lifts Tech
The Technology Select Sector SPDR Fund (NYSE:XLK) led S&P 500 sectors with a 1.5% gain, followed by the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) up 1.0%.
The clear laggard was the Energy Select Sector …
This post was originally published here
