Another day, another record high for US stocks.
The S&P 500 and Nasdaq 100 rose 0.5% and 0.7%, respectively, on Friday.
There was no trifecta of records this time around, though, as the Russell 2000 gave back some of Thursday’s mammoth gains with a 0.8% decline.
Tech was the best-performing S&P 500 sector ETF, while energy was at the bottom of the leaderboard.
Gains on the day were led by Paramount Skydance, which popped 5.8% following reports that Warner Bros. Discovery’s bid for the media giant will range between $22 and $24 per share. Declines were led by DexCom, which fell 11% after the medical device maker was the target of a short report by Hunterbrook Media. Elsewhere…
Rigetti Computing and D-Wave Quantum were up 15% and 11.9%, respectively, as speculative small-cap names beloved by retail traders basked in renewed Fed rate cut optimism.
FedEx rose 2.4% after the courier giant delivered better-than-expected fiscal Q1 results…
