Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday’s midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets. The S&P 500 climbed 0.4% to 6,390, marking a fresh all-time high and the Nasdaq 100 also rose 0.5% to break above 23,330, led by strength in tech and consumer names.
- QQQ ETF has risen 40% off April’s lows. Track it now here.
With today’s gains on Wall Street, the combined market capitalization of the Magnificent Seven has hit a new record of $19 trillion, with NVIDIA Corp. (NASDAQ:NVDA) alone climbing to $4.25 trillion.
The Roundhill Magnificent Seven ETF (NYSE:MAGS) is up 1.4% this week and is on pace to log its seventh weekly gain in the last eight.
Markets were buoyed by news from Brussels, where European officials confirmed a Sunday meeting with President Donald Trump. Investors are anticipating the U.S. will move forward with a 15% tariff …