S&P 500 and Nasdaq hit record highs as Dow slips into the red
US stock markets saw a mixed end to the week as two major indexes hit fresh records. The S&P 500 and Nasdaq both closed at all-time highs on Friday, while the Dow Jones slipped into negative territory. The session capped off the S&P 500’s strongest monthly performance since 2020.
The S&P 500 rose by roughly 0.5%, finishing at 7,246—a new closing high. The Nasdaq climbed nearly 1%, ending the day at 25,149, also setting a record. Meanwhile, the Dow Jones lost ground, dropping about 0.1% to close at 49,620 after earlier gains of over 300 points.
Weakness in key stocks dragged the Dow lower. Amgen, Home Depot, and Sherwin-Williams all underperformed, impacting the index due to its price-weighting method. Despite this, the broader market remained strong. Several companies posted notable gains. Apple shares jumped 4% after reporting better-than-expected quarterly results. Moderna rose 3% as international COVID vaccine sales surpassed forecasts. The iShares Expanded Tech-Software Sector ETF also surged 3.1% during the session.
Friday’s trading marked the S&P 500’s best monthly showing since 2020. The Nasdaq and S&P 500 both secured fresh closing highs, reflecting continued strength in tech and growth stocks. The Dow’s slight decline highlighted the impact of individual stock movements on its price-weighted structure.
