Wall Street ended at record highs on Friday, driven by strong tech earnings and optimism around AI-led growth. Dells upbeat forecast lifted chip and software stocks, while investors tracked developments on a potential US-Iran deal. Despite inflation concerns, major indexes posted weekly and monthly gains.
Wall Street ended at record highs on Friday, driven by strong tech earnings and optimism around AI-led growth.
Dells upbeat forecast lifted chip and software stocks, while investors tracked developments on a potential US-Iran deal.
Despite inflation concerns, major indexes posted weekly and monthly gains.
Wall Street's main indexes hit record closing highs on Friday and posted weekly and monthly gains as Dell results drove tech shares higher, while investors awaited details on a potential U.S.-Iran deal. President Donald Trump said in a social media post that he would make a final decision on the Iran deal on Friday. Tehran earlier said it was looking for action, not words, when it came to an agreement.
Dell surged after raising its full-year profit and revenue forecasts on Thursday. The tech sector climbed, fueled by gains in chip stocks.
Peers Hewlett Packard Enterprise and Super Micro Computer gained. Microsoft climbed.
The software services index also advanced.
Earlier in the session, all three indexes hit intraday record highs, cruising on renewed optimism around AI and strong earnings growth, despite concerns about the Iran war's impact on inflation and the global economy.
According to preliminary data, the S&P 500 gained 16.11 points, or 0.21%, to end at 7,579.74 points, while the Nasdaq Composite gained 53.74 points, or 0.20%, to 26,971.21. The Dow Jones Industrial Average rose 363.48 points, or 0.72%, to 51,032.45.
EARNINGS-DRIVEN RALLY
Averytin News Financial update.