S&P 500 books record closing high
The S&P 500 ended the week with its highest close ever, as Friday’s 0.5% gain capped a week that saw the benchmark US stock index rise 3.4%.
The Nasdaq 100 rose 0.4% on the session, while the Russell 2000 was virtually flat.
The S&P 500 opened at an intraday all-time high. Though stocks took a leg lower and briefly dipped into negative territory in the afternoon when US President Donald Trump said he was breaking off trade talks with Canada over its digital tax, markets made a renewed push higher in the last hour of trading.
Most S&P 500 sector ETFs were positive, with consumer discretionary and communication services leading the way higher. Energy, healthcare, and tech declined on the day.
Nike led S&P 500 gainers, jumping 15% in its best day since 2021 after the sneaker giant laid out a clear game plan for its comeback and picked up a pair of analyst upgrades after reporting a solid sales beat.
Athletic wear stocks including Dick’s Sporting Goods and Adidas both jumped over 3% on the heels of Nike’s strong Q4, as investors grew more bullish on the sportswear space.
Coinbase and Enphase Energy were among the worst performers, down nearly 6% and 5%, respectively. Elsewhere…
Boeing rose about 6% after landing a surprise “buy” rating from Rothschild & Co. Redburn also projected record annual cash flow by 2030, thanks to 737 and 787 jet deliveries.
Hims & Hers gained almost 7% after naming a new C-suite hire, recovering some ground after its high-profile breakup with Novo Nordisk.
Newmont Mining slid 4% as gold prices retreated from recent highs, reversing a streak of safe haven asset buying to combat market volatility.
