Stocks Cap Longest Weekly Rally on Earnings, Peace Hopes – US Market Wrap
Stocks rose, oil fell, yields edged higher, and the dollar was steady as optimism around a potential Iran deal and strong earnings supported sentiment.
A record-breaking run drove stocks to their longest weekly rally since 2024, with the S&P 500 posting a fifth straight week of gains as efforts to turn a fragile ceasefire into lasting peace combined with solid economic data. Tech shares led the advance after Apple delivered a strong outlook. US crude dropped to around $102 on reports Iran submitted a new proposal to Washington.
Iran signaled willingness to engage in diplomacy if the US shifts its stance, while Trump said Tehran wants a deal but noted key disagreements remain. Markets also digested firm economic data, with manufacturing expanding even as war-driven input costs rose.
Three Fed officials dissented, arguing it is no longer appropriate to signal the next move will be a rate cut. Still, equities have pushed higher, with about 81% of S&P 500 companies beating earnings estimates, underscoring corporate resilience.
