U.S. stocks ended higher on Friday, with the S&P 500 and the Nasdaq ending at new all-time closing highs as oil prices eased and robust earnings lifted investors’ sentiment. However, the Dow ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) slid 0.3% or 152.87 points, to close at 49,499.27 points.
The S&P 500 rose 0.3%, or 21.11 points, to end at 7,230.12 points. Tech and consumer discretionary stocks were the biggest gainers.
The Information Technology Select Sector SPDR (XLK) gained 1.5%. The Consumer Discretionary Select Sector SPDR (XLY) rose 0.2%. The Energy Select Sector SPDR (XLV) declined 1.3%. Eight of the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq added 0.9%, or 222.13 points, to finish at 25,114.44 points.
The fear gauge, CBOE Volatility Index (VIX), was up 0.59% to 16.99. Advancers outnumbered decliners on the NYSE by a 1.18-to-1 ratio. On the Nasdaq, a 1.69-1 ratio favored advancing issues. A total of 15.27 billion shares were traded on Friday, lower than the last 20-session average of 17.64 billion.
On the NYSE, there were 578 new 52-week highs and 63 new lows. On the Nasdaq, there were 132 new highs and 51 new lows. On the S&P 500, there were 45 new 52-week highs and 13 new lows.
Uncertainty Over Iran War Continues
Stocks rallied on Friday to start a new month on a high. The S&P 500 and the Nasdaq closed at new all-time highs after recording their biggest monthly percentage gains in April. However, May also marks the beginning of a historically weak six-month stretch for stock markets. The S&P 500 has gained only an average 2% between May and October since 1945.
Meanwhile, oil prices fell on Friday after Iran sent an amended draft agreement via Pakistani mediators to end the ongoing war with the United States. However, President Donald Trump on Friday said that he is not happy with the amendments made to the draft.
The West Texas Intermediate crude futures fell 2.98% to settle at $101.94 per barrel on Friday.
Robust Earnings Boost Investors’ Sentiment
The first-quarter earnings season is in full swing, and investors have been closely monitoring the quarterly results. A batch of companies from the Magnificent Seven related to AI stocks reported their quarterly results last week.
Friday’s rally was driven by Apple, Inc. (AAPL), after the iPhone-maker posted a beat on both earnings and revenues. Apple reported second-quarter fiscal 2026 earnings of $2.01 per share, up 21.8% year over year and ahead of the Zacks Consensus Estimate by 4.7%.
