economy
The S&P 500 and Nasdaq Kept Their Record Rallies Going. Here Are 3 Key Takeaways
It seemed like what really captivated Wall Street though was corporate earnings.
TL;DR
- The S&P 500 and Nasdaq Composite reached record highs multiple times during the week, marking their best month since 2020.
- Strong earnings from tech giants like Alphabet, Amazon, and Microsoft buoyed the market, although Meta's stock dipped on increased capital expenditure outlook.
- Despite geopolitical concerns and rising oil prices, investors remained focused on equities, with economic data showing a resilient U.S. economy and stable consumer spending.
- The Federal Reserve kept interest rates unchanged, and comments from Fed Chair Jerome Powell indicated solid economic growth and steady consumer spending.