News on Dow and S&P 500 Achieving Record Highs Amidst Market Trends
Market Trends in Focus
Both the S&P 500 and Dow Jones Industrial Average surged to new record highs on Friday, concluding six straight weeks of gains. The broad market benchmark advanced 0.40% to finish at 5,864.67. The Dow Jones Industrial Average gained 36.86 points, or 0.09%, to settle at 43,275.91. The Nasdaq Composite, buoyed by a post-earnings jump in Netflix, closed up 0.63% at 18,489.55.
Market Influences and Predictions
The three major averages secured their sixth consecutive positive week, marking the longest string of weekly advances in 2024 for both the Dow and S&P 500, which concluded 0.96% and 0.85% higher, respectively. Netflix gained 11% on Friday following a strong earnings report, with a notable 35% increase in ad-tier memberships compared to the previous quarter. Procter & Gamble also exceeded expectations in earnings despite revenue falling short.
- Over 70 S&P 500 companies have reported this season.
- 75% of those have surpassed expectations according to FactSet.
Investor expectations suggest ongoing market strength, with forecasts of increased volatility leading up to the elections. Rob Williams, chief investment strategist at Sage Advisory, noted a marked trend reversal in traffic during election years, hinting at potential continued rallying examples through November.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.