S&P 500, Nasdaq Rise to Record High

2026-05-08 20:18 By Agna Gabriel 1 min. read

The S&P 500 rose 0.8% to close at 7,399 on Friday, while the Nasdaq Composite gained 1.7% to 26,247, with both indexes hitting fresh highs.

The Dow Jones Industrial Average edged up 12 points to 49,609.

Sentiment was supported by stronger-than-expected US labor data, as nonfarm payrolls increased by 115,000 in April, beating forecasts, while the unemployment rate held at 4.3%.

Investors also monitored renewed clashes between the US and Iran in the Strait of Hormuz, though President Donald Trump said the ceasefire remained intact.

Markets continued to await Tehran’s response to a US proposal aimed at ending the conflict.

Meanwhile, optimism around AI spending boosted technology shares, with Micron Technology and Sandisk surging sharply.

All three major indexes ended the week higher, supported by strong corporate earnings and continued strength in tech stocks.

The Nasdaq rose 4.5% and the S&P 500 added 2.3%, marking a sixth straight winning week and the longest winning streak since 2024.



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