Stocks Close the Week at Record Highs as Tech Earnings Fuel Another Rally

The stock market wrapped up the week on a strong note Friday, with all three major averages reaching fresh record intraday and closing highs. The S&P 500 advanced 0.2%, the Nasdaq Composite gained 0.2%, and the Dow Jones Industrial Average outperformed with a 0.8% rise, capping another impressive week for equities.

While the major indices finished at new highs, leadership remained relatively concentrated beneath the surface. The information technology sector surged 1.9%, providing the bulk of the market’s upside, while financials added 0.6%. The remaining sectors generally moved lower, highlighting the continued dominance of select growth and technology names.

Earnings-driven gains were once again at the center of the rally. Dell Technologies delivered one of the strongest performances in the market after posting results that easily exceeded expectations, sending shares sharply higher. The upbeat report also lifted other hardware-related stocks, including Hewlett Packard Enterprise and NetApp, which posted substantial gains of their own.

Software stocks added further momentum to the technology sector. The iShares Expanded Tech-Software Sector ETF climbed 6.3%, led by powerful advances from ServiceNow and Oracle following strong earnings reports. Microsoft continued its recent leadership role among mega-cap technology companies, extending gains for a second consecutive session and helping push the broader market higher.

Semiconductor stocks were notably absent from the rally’s leadership group. Despite strong performance from other technology subsectors, the Philadelphia Semiconductor Index finished little changed as investors paused after the group’s recent surge.

Financial stocks provided the market’s only other meaningful source of strength. Major banking names traded higher throughout the session, while Robinhood Markets posted a double-digit gain after announcing the launch of the official Trump Accounts application.

On the downside, the consumer staples sector was the weakest area of the market, falling 2.0%. Costco weighed heavily on the group after delivering a mixed earnings report that left investors wanting more. Clorox also came under pressure after announcing that Chief Executive Officer Linda Rendle would step down due to health reasons.

Outside of technology, weakness among several mega-cap stocks weighed on both the communication services and consumer discretionary sectors. Energy shares also moved lower as oil prices continued to retreat.

Crude oil futures settled down 1.7% at $87.42 per barrel as investors remained optimistic that progress is being made toward a broader U.S.-Iran agreement. President Trump indicated earlier in the day that discussions were underway regarding a memorandum of understanding that would extend the current ceasefire and establish a framework for future nuclear negotiations. Although no official announcement emerged following the meeting, hopes for a diplomatic resolution helped keep pressure on energy prices.

As the market heads into the weekend, momentum remains firmly on the bulls’ side. Record highs continue to be driven by strong earnings growth, particularly within technology and software companies. While participation remains somewhat narrow, easing oil prices and growing optimism surrounding U.S.-Iran negotiations have provided additional support for risk assets, allowing the major averages to finish the week at yet another set of record highs.

Our FTinvest 11 model portfolio declined 0.78% to close at 1,070.53, ending a three-session streak of record closes. Despite the pullback, the portfolio remains near its recently established all-time high of 1,078.93, reflecting the strength of the rally that carried it to new highs throughout the week.

FTinvest 11 is now up approximately +15.34% year-to-date, continuing to deliver strong performance in 2026. While today’s decline represents a pause in the recent advance, the portfolio remains firmly in an uptrend, supported by its disciplined, value-driven investment approach and sustained long-term momentum.