Wall Street Ends Record-Setting Week as Stocks Surge

NEW YORK — Wall Street wrapped up another record-setting week on Friday, with the S&P 500 closing at an all-time high for the fifth time this week. The Dow Jones Industrial Average rose 208 points (0.5%), while the Nasdaq added 0.2%, continuing its streak of record-breaking performance.

Strong Earnings Lift Market

Retail giant Deckers, the parent of Ugg and Hoka, soared 11.3% after surpassing Wall Street’s expectations. International sales helped fuel a nearly 50% jump in revenue outside the U.S.

Edwards Lifesciences gained 5.5%, reporting strength across all product groups and raising its full-year profit outlook.

These gains offset an 8.5% drop from Intel, which posted a quarterly loss and announced job cuts. Once a titan of Silicon Valley, Intel continues to lag behind rivals like Nvidia and AMD amid surging demand for AI chips.

Index Summary

  • S&P 500: ↑ 25.29 to 6,388.64

  • Dow Jones: ↑ 208.01 to 44,901.92

  • Nasdaq: ↑ 50.36 to 21,108.32

Market Outlook Hinges on Trade & Rates

Investors are watching for signs that President Donald Trump will deliver additional trade deals, following recent agreements with Japan and the Philippines. The next key deadline: August 1.

Next week’s Federal Reserve meeting also looms large. Trump has repeatedly urged the Fed to cut rates to reduce U.S. debt costs, but Chair Jerome Powell insists more data is needed—especially on the impact of tariffs.

“I just want to see one thing happen, very simple: Interest rates come down,” Trump said Friday.

Despite speculation, Trump now appears unlikely to fire Powell, citing the risk of disrupting market confidence.

Bond Market Response

  • 10-year Treasury yield: ↓ to 4.38% (from 4.43%)

  • 2-year Treasury yield: Steady at 3.91%

Lower interest rates typically stimulate economic growth but can also stoke inflation. If the bond market expects inflation, long-term borrowing could actually become more expensive—despite Fed rate cuts.

Global Markets Mixed

Asian and European stocks ended the week in the red:

  • Hong Kong: ↓ 1.1%

  • Shanghai: ↓ 0.3%

U.S. Treasury Secretary Scott Bessent is scheduled to meet with Chinese officials in Sweden ahead of an August 12 trade deadline. Trump hinted that a China visit may come soon as tensions begin to ease.

Source: AP News