The S&P 500 gained for the ninth-straight week, its longest winning run since 2023.
The S&P 500 and Nasdaq 100 set new record closing highs, while the Russell 2000 dipped. This morning, President Trump posted on Truth Social that he’s meeting with advisers in the Situation Room to make a “final determination” on a peace deal with Iran.
Information technology was the best-performing sector as Snowflake’s earnings eased investor fears of an AI-induced SaaSpocalypse, lifting the entire software sector, with Salesforce, Microsoft, Palantir, CrowdStrike, ServiceNow, Atlassian, Figma, Zscaler, Microsoft, and Intuit** **climbing.
Aside from tech, financials was the only other sector to close in the green, while consumer staples fared the worst.
Moving higher:
Dellsoared after deliveringblowout quarterly results and boosting full-year guidanceafter the bell yesterday, driven by surging AI server demand.Dell's strong Q1 beat on AI server demand lifted the broader server hardware space, with
HP EnterpriseandSuper Micro Computersurging on the news.Fordrallied after Bank of America hiked its price target to $20 from $17.MicronandSandiskrose onnew Street-high price targets from Susquehanna.Oktasoared on aQ1 earnings beat and raised outlookdriven by AI security demand.SoFi Technologiescontinued to surge following thelaunch of its stablecoin to 15 million customers.BlackBerryclimbed, extending what isone of its hottest rallies of all time.Nextpowerclimbed on news it willacquire battery energy storage provider Prevalon Energy, along with price target hikes from Jefferies and other analysts.
Moving lower:
AST SpaceMobileplummeted after aBlue Origin rocket explosion.Gapsank aftercutting its annual sales forecast and missing on earnings.Costcoshares fell following company’smixed fiscal third-quarter earnings report. The retailer managed to outperform Wall Street estimates on earnings per share and membership fees, but missed on revenue overall as budget-conscious coCryptocurrency
suifell as the blockchainhalted transactions for the second day in a row.