US stocks were flat to higher on Friday, following record-high closes for both the S&P 500 and the Nasdaq the previous day. The three major averages are on track to end the week over 1% higher.
Market sentiment remained cautiously optimistic amid hopes that new trade agreements—particularly with the EU—could be finalized before the August 1st deadline, potentially easing tariff rates. Adding to investor relief, President Trump appeared to soften his tone toward Federal Reserve Chair Jerome Powell, helping to ease concerns about the Fed's independence.
Health and materials were the top performing sectors while communication services underperformed. Meanwhile, earnings season rolled on, with Intel shares plunging nearly 9% after the company missed profit expectations, despite beating revenue forecasts and issuing an upbeat outlook. Traders now await the busiest of the earnings season and the Fed's monetary policy decision next week.
Source : Trading Economics
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