Major U.S. indexes closed higher Friday following Fed leadership change, earnings beats, and reduced geopolitical tensions.
U.S. equities advanced Friday, with major averages posting gains for the week. The S&P 500 and Nasdaq rose as Kevin Warsh was sworn in as Federal Reserve chair, replacing Janet Yellen. Markets also reacted to easing U.S.-Iran tensions and strong earnings from Nvidia and Walmart, which exceeded analyst expectations.
Prior to Friday’s close, the S&P 500 had traded flat for the week, while the Nasdaq lagged amid tech sector volatility. Nvidia’s quarterly results, driven by AI demand, and Walmart’s better-than-expected revenue provided a late-week boost. Geopolitical headlines also contributed to investor optimism.
No immediate market reaction data was reported beyond the closing prices, which reflected broad-based gains across sectors.