S&P 500 and Nasdaq 100 post record highs on solid earnings
Barchart commentary carried by Yahoo Finance reported that the S&P 500 closed up 0.29% on Friday and the Nasdaq 100 gained 0.94%, with both indexes posting record highs on solid earnings.
At a glance
- The S&P 500 closed up 0.29% and the Nasdaq 100 up 0.94%, both at record highs
- The Dow Jones Industrial Average closed down 0.31%
- Solid earnings were cited as the driver of the record highs
VERDICT — CONFIRMED
The S&P 500 closed up 0.29% and the Nasdaq 100 gained 0.94% on Friday, with both indexes posting record highs on solid earnings, per Barchart commentary carried by Yahoo Finance. The Dow Jones Industrial Average slipped 0.31%, and June E-mini S&P futures rose 0.19% in the session.
Per the commentary, stocks added to gains after crude oil prices plunged, with WTI falling more than 3% on hopes for US-Iran peace negotiations, temporarily easing inflation concerns. Gains were capped by tariff threats against European automobiles and an April ISM manufacturing reading of 52.7 versus 53.2 expected.
Earnings did the heavy lifting, per the same commentary: 82% of the 317 S&P 500 companies that had reported Q1 results beat estimates, with Q1 earnings projected up 12% year-over-year. Apple rose 3% after guiding Q3 revenue growth of 14-17%, while Atlassian jumped 29% on stronger revenue.
The figures are as reported in the Barchart commentary; index levels and the 10-year Treasury yield, cited at 4.376%, reflect that single session's close.
Key facts on file
- The S&P 500 closed up 0.29% and the Nasdaq 100 up 0.94%, both at record highs
- The Dow Jones Industrial Average closed down 0.31%
- Solid earnings were cited as the driver of the record highs
