NEW YORK, New York - U.S. stocks rallied to fresh all-time highs on Friday, capping a winning week with broad-based gains as the Dow Jones Industrial Average breached the 51,000 level for the first time, according to final closing quotes.
The Dow Jones Industrial Average led the charge, soaring 363.49 points, or 0.72 percent, to close at a historic 51,032.46. The blue-chip index traded between a low of 50,698.27 and a high of 51,094.18 during the session, marking yet another milestone in the post-election rally.
The broader Standard and Poor's 500 also notched a record finish, advancing 16.43 points, or 0.22 percent, to end at 7,580.06. The index touched a session peak of 7,599.38 and a low of 7,563.55, extending its year-to-date gains as investor sentiment remained buoyant.
The technology-heavy NASDAQ Composite posted a more modest gain, rising 55.15 points, or 0.20 percent, to close at 26,972.62. Despite the smaller percentage move, the Nasdaq remained near its all-time highs, supported by strength in mega-cap tech names.
Trading volume was robust on Wall Street, with 5.102 billion shares changing hands on the S&P 500 and 10.502 billion shares traded on the Nasdaq Composite. The Dow saw 831.372 million shares move across the tape
The Dow Jones finished with the biggest gain; however, it was the tech sector driving the day's action. Dell surged more than 30 percent after the company upgraded its outlook for future earnings. "Dell is like the poster child for [the] AI broadening earning story," David Nicholas, CEO and Founder of XFUNDs by Nicholas Wealth told CNBC Friday. "We started with chips, memory, but it's really now about the broad kind of AI infrastructure stack."
U.S. Dollar Trades Mixed on Friday as Kiwi and Sterling Lead Gains; Swiss Franc Slips
The U.S. dollar posted a mixed performance against major currencies on Friday, with the New Zealand dollar and British pound posting notable gains. At the same time, the Swiss franc retreated, according to the latest foreign exchange market quotes.
The NZD/USD pair was the standout mover of the session, surging 0.92 percent to close at 0.5988. The pair traded in a range between 0.5927 and 0.5995, building on recent momentum for the kiwi.
The British pound also showed strength, with GBP/USD rising 0.17 percent to finish at 1.3468. Sterling moved between a low of 1.3408 and a high of 1.3485 during Friday's trading session.
The Australian dollar advanced as well, with AUD/USD gaining 0.35 percent to end the day at 0.7187. The pair saw intraday lows of 0.7149 and peaks of 0.7200.
The euro edged higher against the greenback. EUR/USD added 0.12 percent to settle at 1.1665, having traded between 1.1625 and 1.1685 over the course of the day.
The USD/JPY pair was virtually unchanged, inching up just 0.01 percent to last trade at 159.27. The dollar touched a session low of 159.10 and a high of 159.38 against the Japanese yen.
The USD/CAD pair rose modestly by 0.04 percent, finishing around 1.3789. The Canadian dollar weakened slightly as the pair oscillated between 1.3770 and 1.3829.
Meanwhile, the Swiss franc saw the USD/CHF pair dropping 0.48 percent to settle at 0.7802, having peaked at 0.7847 and bottomed at 0.7795 during Friday's trading.
In China, the USD/CNY pair declined 0.20 percent, closing at 6.7663. The pair remained exceptionally stable throughout the session, with a narrow trading band between 6.7663 and 6.7665.
Traders noted that volume was consistent across major pairs, with markets digesting the latest interest rate expectations and geopolitical developments heading into the weekend.
Powerful rally across Asia Friday, as World stocks finished mixed
World stock markets closed with a mixed performance on Friday, as a powerful rally across Asia contrasted with modest pullbacks in Europe, according to final closing quotes.
Canadian stocks joined the gainers. The S&P/TSX Composite index climbed 240.87 points, or 0.70 percent, to finish at 34,758.57. The TSX traded on volume of 636.955 million shares, reflecting broad participation across sectors.
In a session marked by sharp regional divergence, the KOSPI Composite Index in Seoul emerged as the day's global leader, skyrocketing by 290.86 points, or 3.55 percent, to settle at a record high of 8,476.15.
Similarly, Tokyo's Nikkei 225 jumped 1,636.38 points, a gain of 2.53 percent, to close at 66,329.50.
In Taiwa, the TWSE Capitalization Weighted Stock Index also posted strong gains, advancing 1,096.50 points, or 2.51 percent, to finish at 44,732.94.
Down under, Australian markets saw robust growth Friday. The S&P/ASX 200 rose 138.80 points, or 1.62 percent, ending at 8,731.70, while the broader ALL ORDINARIES added 145.40 points, or 1.65 percent, to close at 8,965.00.
In Greater China, the HANG SENG INDEX advanced 176.23 points, or 0.70 percent, to 25,182.39. However, the SSE Composite Index on the mainland bucked the trend, falling 30.07 points, or 0.73 percent, to finish at 4,068.57.
In Singapore, the STI Index gained 48.67 points, or 0.98 percent, closing at 5,037.86, while New Zealand's S&P/NZX 50 INDEX GROSS inched up 38.44 points, or 0.29 percent, to 13,244.55.
Elsewhere in Asia, Indonesia's IDX COMPOSITE edged down 2.81 points, or 0.05 percent, to 6,127.38, while in Malaysia, the FTSE Bursa Malaysia KLCI dipped 1.86 points, or 0.11 percent, closing at 1,683.07.
India's S&P BSE SENSEX posted one of the steepest losses of the day, tumbling 1,092.05 points, or 1.44 percent, to end at 74,775.74.
In the Middle East, most markets were closed and set to reopen on Sunday. The TA-125 in Tel Aviv however traded, and rose 31.40 points, or 0.71 percent, to 4,430.46.
In Africa, the Top 40 USD Net TRI Index in South Africa added 8.64 points, or 0.12 percent, to 7,090.28.
European markets, however, closed mostly in the red. The CAC 40 in Paris slipped 5.53 points, or 0.07 percent, ending at 8,183.34. The EURO STOXX 50 I dropped 4.57 points, or 0.08 percent, to 6,050.54, while the broader Euronext 100 Index lost 0.41 points, or 0.02 percent, closing at 1,844.23. Belgium's BEL 20 declined 19.64 points, or 0.35 percent, to finish at 5,583.39.
In a rare bright spot for the continent, Germany's DAX P managed a slight gain, rising 12.45 points, or 0.05 percent, to settle at 25,104.70.
London's FTSE 100 fell 16.68 points Friday, or 0.16 percent, to 10,409.28.
Trading volumes were notably high on the KOSPI, with 735,127 shares changing hands, while the SSE Composite reported a volume of 145.327 million.
(This report incorporates quotes retrieved with the assistance of artificial intelligence).
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