Nasdaq Hits Record as Strong Earnings and Ukraine Peace Hopes Drive Best Week Since June – US Market Wrap

Wall Street had its best week since June, with the Nasdaq 100 reaching all-time highs on strong earnings as hopes grew that the US and Russia would reach an agreement to end the conflict in Ukraine. Bonds fell. Gold was whipsawed.

The S&P 500 approached 6,400. A gauge measuring the “Magnificent Seven” megacaps also set a record. Apple Inc. had its best week since 2020, as plans to invest an additional $100 billion in domestic manufacturing could help the company avoid tariffs. Fannie Mae and Freddie Mac soared following reports that the US is preparing to sell shares in an offering that could begin as early as this year.

The yield on 10-year Treasuries increased three basis points to 4.28 percent. The dollar barely moved. Oil fluctuated. The Trump administration suggested issuing a new policy clarifying that gold bar imports should not be subject to tariffs.

According to reports citing people familiar with the matter, US and Russian officials are working to reach an agreement on territories for a summit meeting between Trump and Putin as early as next week.