The S&P 500 and Dow Jones Industrial Average hit fresh all-time highs on Friday as both indexes looked to cap off a positive week on a high note.
The 30-stock index added 74.26 points to Thursday’s all-time record to open Friday at 35,574.11
The S&P 500 gained 5.43 points to 4,466.40, to improve on Thursday’s all-time high.
Among the S&P sectors, health care and communication services stocks outperformed as Moderna added 2% and ViacomCBS tacked on 1.1%. Energy and industrials again underperformed with Hess down 1.5% and United Rentals retreating 1%.
The NASDAQ ditched 3.87 points to 14,812.39.
The blue-chip Dow is up 0.8% through Thursday and the S&P 500 has jumped 0.6%, on track to close out a winning week. The tech-heavy NASDAQ Composite has underperformed so far this week, down 0.1%.
Shares of Disney jumped 3.75% in morning trading after it reported blowout fiscal third-quarter earnings, helping pushing the Dow to a new record. The media giant crushed Wall Street expectations on Disney+ subscriber growth and overall revenue and earnings.
Stocks are rising to records on the back of a stellar earnings season.
Year-over-year earnings growth is expected to be 92.9%, according to Refinitiv. So far about 90% of the S&P 500 companies have handed in their quarterly report, and about 88% of them beat earnings estimates from Wall Street analysts, according to Refinitiv.
Airbnb shares fell 1.1% after the travel company issued a warning about volatility due to the COVID delta variant.
Prices for 10-Year Treasurys gained ground, lowering yields to 1.33% from Thursday’s 1.36%. Treasury prices and yields move in opposite directions.
Oil prices fell nine cents to $69.00 U.S. a barrel.
Gold prices prospered $13.10 to $1,764.90 U.S. an ounce.