S&P 500 Extends Five-Day Record Streak Amid Trade Deal Progress

The S&P 500 extended its record-setting winning streak, closing at new highs and marking its first week of daily closing records since November 2021, driven by strong earnings and optimism around trade deals. Key trade agreements with Japan, Indonesia, and the Philippines, along with ongoing negotiations with the European Union and China, have boosted market sentiment despite some stalled talks with Canada. Notably, strong earnings from companies like Alphabet, Verizon, Deckers, and Edwards Lifesciences helped offset losses from Intel, which reported disappointing results and announced significant job cuts. The Nasdaq also reached multiple record closes, supported by positive tech earnings and an optimistic AI market narrative. Investors are cautiously eyeing the upcoming Federal Reserve meeting and a busy earnings calendar including major tech firms like Apple, Meta, and Microsoft. Overall, the markets have largely shrugged off tariff concerns ahead of the August 1 deadline, with volatility remaining relatively low.