Wall Street climbs; Nasdaq notches 18th record close of 2025

Wall Street climbs; Nasdaq notches 18th record close of 2025

US stocks ended higher on Friday, extending weekly gains as upbeat technology earnings and fresh signals of a more dovish Federal Reserve outlook lifted sentiment.

The Dow Jones Industrial Average rose about 223 points, or 0.5%, while the S&P 500 advanced nearly 0.7%. The Nasdaq Composite climbed 0.8%, closing at a fresh all-time high — its 18th record close of the year — as megacap technology stocks led the rally. Apple surged more than 4% after posting stronger-than-expected quarterly results, with Expedia and other growth names also gaining.

Tech heavyweights led the rally. Apple surged over 4% after reporting quarterly revenue and earnings that beat Wall Street estimates, driven by stronger iPhone sales and growth in its services division. Expedia and several semiconductor stocks also posted solid gains.

On the macro front, softer-than-expected U.S. wholesale inventory data, coupled with steady jobless claims earlier in the week, suggested the economy may be cooling without tipping into recession — a backdrop supportive of equities. Treasury yields dipped, with the 10-year yield retreating toward 3.85%, adding to the appeal of risk assets.

In Europe, equities finished the day on a mixed but generally positive note. The pan-European Stoxx 600 added 0.2%, capping its best week in 12 weeks with a 2.2% weekly advance, driven by financial stocks. London’s FTSE 100 was little changed, slipping 0.04%, while Germany’s DAX fell 0.24% and France’s CAC 40 edged up 0.17%. Switzerland’s SMI gained 0.15%.

Among major national benchmarks, London’s FTSE 100 was virtually unchanged, easing 0.04% as energy and mining losses offset banking gains. Germany’s DAX slipped 0.24%, pressured by weakness in industrials, while France’s CAC 40 inched up 0.17% and Switzerland’s SMI rose 0.15%.

Traders in Europe drew support from reports suggesting progress toward a potential Russia-Ukraine ceasefire and a calmer trade backdrop as U.S.–EU tariff tensions eased.

For the week, global equity sentiment was underpinned by a combination of corporate earnings resilience, moderating inflation data, and the perception that central banks are edging toward a more accommodative stance — setting the stage for a potentially bullish August.