The S&P 500 rose 0.2% and the Nasdaq gained 0.4% on Friday (July 18), extending gains after both indexes closed at record highs the previous day. Meanwhile, the Dow Jones Industrial Average hovered near the flatline, as investors remained focused on corporate earnings and market developments.
Alphabet and Tesla, which are scheduled to report quarterly results next week, rose 0.7% and 1.6%, respectively. Charles Schwab shares rose 4.4% after upbeat earnings and revenue, while Chevron rose 1% after the company completed its $53 billion acquisition of Hess. Netflix shares, on the other hand, fell 4.7%, despite the company beating expectations on both revenue and earnings per share.
American Express fell 2.5% despite reporting record-breaking earnings. For the week, the S&P 500 rose 0.6%, the Nasdaq jumped 1.5%, and the Dow Jones Industrial Average added 0.3%, supported by strong US economic data, including strong retail sales and lower-than-expected core CPI and PPI figures, which offered some reassurance about the health of the US economy. (alg)
Source: Trading Economics
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