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Home / Business / US stocks rise to another record high as S&P 500 records longest streak with weekly gains of 2 years

US stocks rise to another record high as S&P 500 records longest streak with weekly gains of 2 years



  trader Reuters

  • All major US stock indices closed at record highs on Friday.
  • The S&P 500 posted its sixth straight weekly gain, the longest such streak since the end of 2017.
  • Fresh highlights came amid a boost in optimism for a White House economic adviser Larry Kudlow said late Thursday that the United States and China are nearing a resolution.
  • Tech heavyweight Microsoft and Google parent Alphabet both notched the record on Friday as well.
  • Visit the Business Insider homepage for more stories.

All the major US stock indices posted all the time on Friday. The S&P 500 noted its sixth straight weekly gain, the index's longest streak in two years.

Here's a look at the main indices from 4pm on Friday: [1

9659009] The record holiday season came when White House economic adviser Larry Kudlow said late Thursday that the US and China were nearing a trade deal, pumping investors with a some optimism that a resolution could soon be reached.

Commerce Secretary Wilbur Ross said in an interview on Fox Business Network on Friday that while progress has been made, there are still some issues.

"The president has not agreed to remove the tariffs," Ross said. "We will see the details as they come through and they will be good details, otherwise the president will not go along with it."

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Chris Zaccarelli, chief of investment managers at the Independent Advisor Alliance, said in an email that "Dow is approaching the psychologically significant 28,000 level is another sign that investors are regaining confidence in the pending arms armor with China. "

Here are the top five performers in the S&P 500 on Friday:

Microsoft and Google parent Alphabet – two stocks that is heavily weighted within the S&P 500 – both rising more than 1.2% to highs over time.

Healthcare stocks accounted for more than twice the gain for other sectors in the index, increasing by about 2.2%. Shares in energy, communications and technology rose more than 0.6%, while industries added 0.7%.

Materials had the only loss in the sector, falling 0.1%.

Stocks have risen to new heights several times in recent weeks following stronger companies than expected earnings and optimism surrounding a trade.


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