S&P 500 Hits the 50th ATH This Year – US Market Wrap

Stocks rose at the end of their best week in 2024 on strong consumer sentiment data and bets that newly elected President Donald Trump’s pro-growth agenda will continue to fuel Corporate America.

Equities rose for the fourth time in a row, with the S&P 500 setting a new record this year. The gauge increased its weekly gain to 4.7%. On Friday, defensive stocks took the lead after some groups reached “oversold” levels. The megacap space was mixed, with Tesla rising and Nvidia declining.

Following a volatile five days of trading, treasuries saw their best weekly advance since early September, while the dollar posted its sixth consecutive week of gains.