U.S. stocks coast toward the finish of a record-setting week
Summary
On Friday, U.S. stocks were near record highs, with both the S&P 500 and the Dow Jones Industrial Average slightly rising. Deckers and Edwards Lifesciences reported strong profits, while Intel faced challenges due to a loss and job cuts. Meanwhile, there's anticipation over trade deals and Federal Reserve decisions on interest rates.Key Facts
- The S&P 500 increased by 0.1%, approaching a record high for the fourth time in five weeks.
- The Dow Jones Industrial Average went up by 71 points, or 0.2%, early in the trading day.
- Deckers' stock surged by 16.6% after exceeding expected profits, especially from overseas sales.
- Edwards Lifesciences rose 8% following a positive quarterly profit report.
- Intel's stock dropped 8.8% due to a quarterly loss, leading to job cuts and expense reductions.
- President Trump announced trade deals with Japan and the Philippines, while further negotiations are anticipated.
- Trump urged the Federal Reserve to cut interest rates, though the Fed wants more data first.
- U.S. Treasury yields stayed mostly steady, with the 10-year yield slightly decreasing to 4.42%.
- International markets saw declines, with decreases in Hong Kong and Shanghai.
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