The S&P 500 Index closed up 0.29% on Friday, reaching a new all-time high, while the Dow Jones Industrial Average fell 0.31%. The Nasdaq 100 outperformed with a 0.94% gain, buoyed by strong performances from tech giants like Apple, which rose over 3% after exceeding revenue expectations for Q2. Atlassian also surged more than 29% after reporting robust Q3 revenue, lifting the broader software sector.

Market sentiment was mixed, influenced by a weaker-than-expected April ISM manufacturing report and renewed trade tensions as President Trump threatened increased tariffs on European automobiles. The decline in crude oil prices, down over 3%, temporarily alleviated inflation concerns, but the ISM prices paid sub-index reached a four-year high, signaling persistent price pressures that could impact future Fed policy.

For investors, the key takeaway is the resilience of earnings reports, with 82% of S&P 500 companies beating estimates so far this season, suggesting continued strength in the market despite macroeconomic headwinds.

Source: nasdaq.com