FINWIRES · TerminalLIVE
FINWIRES

Nasdaq, S&P 500 Log Record Finish, Extend Streak of Weekly Gains

By

-- The Nasdaq Composite and the S&P 500 reached new peaks on Friday, scoring their fifth consecutive weekly gains.

The Nasdaq Composite rose 0.9% to 25,114.4, while the S&P 500 advanced 0.3% to 7,230.1, both notching record closing highs. The Dow Jones Industrial Average lost 0.3% to 49,499.3. Barring technology and consumer discretionary, all sectors ended in the red, led by energy.

This week, the Nasdaq gained 1.1%, while the S&P 500 added 0.9%, their fifth weekly rise in a row. The Dow is up 0.6% after last week's 0.4% loss.

Apple (AAPL) shares jumped 3.2% on Friday, the second-biggest gainer on the Dow. Late Thursday, the tech giant logged fiscal second-quarter results above Wall Street's estimates as iPhone revenue came in stronger than expected.

Apple's fiscal third-quarter revenue guidance was well above the Street's estimates despite supply constraints for Mac models that will likely continue for several months, Wedbush Securities said in a note.

Several other tech names advanced, with Oracle (ORCL) up 6.5%, among the top gainers on the S&P 500, while Salesforce (CRM) climbed 4.1%, the best performer on the Dow. Shares of Intel (INTC), Microsoft (MSFT) and Amazon.com (AMZN) also rose.

In other company news, Exxon Mobil (XOM) and Chevron (CVX) reported year-over-year declines in their first-quarter earnings amid supply disruptions due to the Middle East war, though the figures came in ahead of the Street's estimates. Exxon shares fell 1%, while Chevron lost 1.4%.

West Texas Intermediate crude oil was down 2.7% at $102.20 per barrel in Friday late-afternoon trade, while Brent dropped 1.7% to $108.57. Both benchmarks, however, were on track for their second consecutive weekly advance.

"Brent crude remains elevated after touching a fresh wartime high late in April, supported by worsening physical tightness and rising concern about outright shortages in some regions," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report. "The near closure of the Strait of Hormuz continues to prolong a disruption that is steadily tightening global energy markets, with flows through one of the world's most important oil arteries still severely restricted."

US President Donald Trump said he is displeased with a new peace offer from Iran, CNBC reported Friday.

Israel struck the Habbouch town in southern Lebanon, CNN reported, citing Lebanon's health ministry.

US Treasury yields were mixed, with the 10-year rate up 1.3 basis points at 4.39% and the two-year rate little changed at 3.88%.

In economic news, the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed.

Three Federal Reserve officials who wanted language changes in the April monetary policy statement said Friday that risks to inflation and employment didn't warrant an inclusion of the so-called easing bias.

On Wednesday, regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas supported the Fed's decision to keep its benchmark lending rate steady, but opposed including an easing bias in the Federal Open Market Committee statement.

Gold was down 0.1% at $4,623.30 per troy ounce, while silver climbed 2.6% to $75.95 per ounce.

Related Articles

Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Moderna, Inc. After Q1 Earnings

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:After reviewing Q1 results, we up our target to $48 from $39, based on our NPV analysis. We widen our 2026 LPS view to -$7.95 from -$7.16 and keep our 2027 LPS view at -$4.82. MRNA reported a strong Q1, exceeding revenue expectations and demonstrating significant Y/Y growth. During the analyst call, management highlighted key regulatory approvals in Europe for its respiratory vaccine portfolio and oncology pipeline advancements, which we find encouraging. Despite a GAAP net loss widened by a one-time litigation settlement, underlying financial discipline and cost reduction efforts are noteworthy. Yet, revenue guidance for Q2 is relatively low at $50M-$100M (CFRA: $92M), which points to a 65%-30% Y/Y deceleration (CFRA: 35%) but also signals a significant swing Q/Q after the company recorded $153M in sales in Q1. While we think the progress in the oncology pipeline with the partnership with Merck & Co. (MRK 112 ****) is promising and progressing well, we continue to view MRNA as a wait and see story.

$MRNA
Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Ge Healthcare Technologies Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target to $65 from $87, based on 11.8x our 2027 EPS estimate of $5.51, a sharp discount to the stock's average forward P/E of 18.1x. We cut our 2026 adjusted EPS estimate to $4.86 from $4.96, which stands at the lower end of the reduced guidance range of $4.80-$5.00 (vs. previous $4.95-$5.15). GEHC achieved Q1 organic revenue growth of 2.9% Y/Y, which was at the high end of its expectations. Yet profitability metrics were disappointing with adjusted EPS of $0.99 missing expectations, and the adjusted EBIT margin declining 150 bps Y/Y. This was primarily due to a discrete supplier issue in the PDx business and an unexpected increase in inflationary costs. As a result, GEHC lowered its profit and cash flow outlook, which we view as a prudent move. Strategically, we think GEHC is advancing a strong innovation pipeline, has completed the acquisition of Intelerad, and has announced a reorganization to combine its Imaging and AVS segments into a new segment, which has the potential to accelerate growth.

$GEHC
Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Lennox International Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target to $569 from $559, 21.4x our 2027 EPS estimate (down to $26.57 from $26.62; our 2026 estimate down to $24.14 from $24.51), near LII's three- and five-year historical forward averages of 21.9x and 20.6x, respectively. We think LII faces material near-term operational challenges from residential market softness, escalating tariff-driven cost inflation (~5% vs. prior ~2.5% guidance), and margin compression in its Home Comfort Solutions segment (390-bp decline to 13.3% in Q1). However, these concerns are substantially mitigated by the Building Climate Solutions segment's exceptional performance (38% revenue growth, 300-bp margin expansion to 19.7% in Q1), significantly improved operating cash flow ($16.1M vs. -$35.8M Y/Y) due to inventory normalization. We note an antitrust class action lawsuit, filed in March, alleging price-fixing among HVAC equipment manufacturers since January 2020, posing an additional risk to LII's financial and reputational standing.

$LII