Records on Broad Participation

Stocks delivered their best week since mid-April, with both the S&P 500 and Nasdaq closing Friday at record highs. BAILA remains firmly risk-on.

 

The S&P 500 surged 3.6% for the week to a record close of 7,758, crossing above 7,700 for the first time. The Nasdaq jumped 5.2% to 26,691, also a record, powered by a rebound in semiconductors, with the iShares Semiconductor ETF up more than 7%. The Dow gained 3% to 54,037 after setting its own records earlier in the week. Importantly, the advance was broad: advancing stocks outnumbered decliners by roughly two to one on both the NYSE and Nasdaq. The CNN Fear & Greed Index jumped to 64 (Greed) from Neutral a week ago and Fear a month ago.