S&P 500, NASDAQ closes record highs in trade deal hopes
All three major US stock indexes recorded weekly profits, confirming that the technological Nasdaq has entered the bull market since the trough on March 8th “liberation day” .
US stock futures are higher after more revenue reports, with regular sessions finished and consumer sentiment data ahead of more.
Netflix and Interactive Brokers were among the companies that reported better results than expected.
Meanwhile, preliminary measurements in the University of Michigan’s July Consumer Sentiment Report are expected to rise to 61.8 from a previous reading of 60.7, according to an economist voted by Dow Jones.
At 6:10am (ET) futures tied to the Blue Chip Dow rose 0.14%, while Broad S&P 500 futures added 0.13%, while Tech Heavy Nasdaq futures rose 0.12%.
All major stock indexes aim to finish the week higher. So far, all three indexes have finished over a week, with Nasdaq being the top performer. The Nasdaq and S&P 500 hit new record highs this week.
Corporate News
- Norfolk Southern is expected to be acquired by Union Pacific, citing people familiar with the issue, according to the Wall Street Journal.
- Neflix’s second quarter results surpassed estimates and increased its full-year sales outlook.
- The interactive broker’s second quarter results beat analyst expectations.
- Bank OZK said its second quarter net interest income and earnings per share exceeded the average analyst estimate.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
