US stocks ended higher on Friday, with the Nasdaq notching a record closing high for the second straight day. Technology-related shares, including Apple, gained 4.2% and were up 13.3% for the week in their biggest weekly percentage gain since 2020.
Investors are optimistic about potential interest rate cuts, with expectations of at least 25 basis points by the Fed’s September meeting standing at 89.4%. The Dow Jones Industrial Average rose 0.47%, while the S&P 500 gained 0.78% and the Nasdaq Composite climbed 0.98%.
Gilead Sciences jumped 8.3% after raising its full-year financial outlook, while Expedia rose 4.1% after the company raised its annual forecast for gross bookings and revenue growth.
The Nasdaq’s record closing high marks the 18th such achievement this year, with the index now up about 11% from the start of 2025. Investors are watching inflation trends and US-India trade relations closely, with some saying equities could be set for a pullback.
Source: https://www.reuters.com/business/nasdaq-posts-record-closing-high-with-tech-gains-rate-cut-optimism-2025-08-08