S&P 500 grinds to another record to close out winning week
The S&P 500 and Dow Jones Industrial Average hit fresh all-time highs on Friday as both indexes capped off modest gains for the week.
The Dow finished the day up 15.53 points to close at a record 35,515.38, while the S&P 500 added 0.16% and finished at 4,468.00, a new closing record. The Nasdaq Composite ticked up just 0.04% to 14,822.90.
Shares of Disney jumped 1% after it reported blowout fiscal third-quarter earnings, helping pushing the Dow to a new record. The media giant crushed Wall Street expectations on Disney+ subscriber growth and overall revenue and earnings.
Among the S&P sectors, consumer staples and utilities outperformed as Tyson Foods added 2.3% and NRG Energy rose 1.3%. Energy and industrials again underperformed with Diamondback Energy down 4.7% and United Rentals retreating 2.2%. Ebay shares added 7.4%.
The blue-chip Dow and the S&P 500 rounded out the week with muted gains of 0.8% and 0.7%, respectively, amid light summertime trading volumes. The tech-heavy Nasdaq Composite underperformed this week, down just under 0.1%.
Investors digested mixed economic data.
Reference: CNBC
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