economy
3 themes that drove stocks to another week of records
The S&P 500 extended its winning streak to nine weeks.
TL;DR
- Stock market indices, including the S&P 500 and Nasdaq Composite, reached record highs last week.
- Investor optimism was fueled by potential progress in the U.S.-Iran war, positive corporate earnings, and strength in tech stocks, particularly those involved in AI.
- Snowflake's AI compute deal with Amazon and Dell's strong revenue growth driven by AI demand boosted tech stocks.
- Cybersecurity stocks experienced volatility, with Zscaler's disappointing guidance impacting peers, but Okta's strong performance driven by AI demand led to a sector-wide rally.
- The S&P 500 completed its ninth consecutive week of gains, while the Nasdaq had won eight of the last nine weeks.