US Stocks Hit New Highs As Magnificent Seven Reach $19 Trillion: What's Moving Markets Friday?

Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets. The S&P 500 climbed 0.4% to 6,390, marking a fresh all-time high and the Nasdaq 100 also rose 0.5% to break above 23,330, led by strength in tech and consumer names.

• QQQ ETF has risen 40% off April’s lows. Track it now here.

With today's gains on Wall Street, the combined market capitalization of the Magnificent Seven has hit a new record of $19 trillion, with NVIDIA Corp. NVDA alone climbing to $4.25 trillion.

The Roundhill Magnificent Seven ETF MAGS is up 1.4% this week and is on pace to log its seventh weekly gain in the last eight.

Markets were buoyed by news from Brussels, where European officials confirmed a Sunday meeting with President Donald Trump. Investors are anticipating the U.S. will move forward with a 15% tariff on EU goods, mirroring the Japan deal structure finalized earlier this week.

President Donald Trump indicated confidence that the Federal Reserve will begin cutting rates, just a day after his high-profile visit to Fed Chair Jerome Powell in Washington, D.C.

Yields on 10-year Treasury bonds held steady at 4.40%, unchanged for the week, while the U.S. dollar index rose 0.3%, paring weekly losses but still set to close lower.

Commodities were broadly weaker. Gold dropped 1.2% to $3,329 per ounce, silver slid 2.4% to $38 per ounce and WTI crude oil declined 1% to $65.40 per barrel.

Bitcoin BTC/USD extended its decline for a third straight session, slipping 2.2% toward $115,800 and heading for its second consecutive weekly loss—a streak not seen since March 2025.

Friday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF VOO rose 0.4% to $585.34.
• The SPDR Dow Jones Industrial Average DIA inched 0.2% up to $447.87.
• The tech-heavy Invesco QQQ Trust Series QQQ rose 0.4% to $567.18.
• The iShares Russell 2000 ETF IWM held steady at $223.55.
• The Consumer Discretionary Select Sector SPDR Fund XLY outperformed, up 1.1%; the Communication Services Select Sector SPDR Fund XLC lagged, down 1%.

Friday’s Stock Movers

• Tesla Inc. TSLA rebounded 5.6% after sliding 8.2% on Thursday amid weaker-than-expected quarterly results.

Stocks reacting to earnings reports included:

• Intel Corporation INTC down 8.94%
• Aon plc AON up 4.58%
• HA Healthcare, Inc. HAHC down 2.97%
• Newmont Corporation NEM up 5.80%
• Digital Realty Trust, Inc. DLR down 0.75%
• Phillips 66 PSX up 0.80%
• Charter Communications, Inc. CHTR down 17.48%
• Edwards Lifesciences Corporation EW up 3.63%
• VeriSign, Inc. VRSN up 6.29%
• First Citizens BancShares, Inc. FCNCA down 0.99%
• Shinhan Financial Group Co., Ltd. SHG up 1.26%
• Deckers Outdoor Corporation DECK up 11.91%
• Booz Allen Hamilton Holding Corporation BAH down 2.27%
• Centene Corporation CNC up 4.90%
• Saia, Inc. SAIA up 5.49%
• AutoNation, Inc. AN down 0.13%
• OneMain Holdings, Inc. OMF up 0.87%
• Boyd Gaming Corporation BYD up 2.24%
• Gentex Corporation GNTX up 14.19%

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