FX.co ★ US Stocks Eye for Fresh Highs

Wall Street's primary indexes reached new record highs during Friday afternoon trading, buoyed by positive corporate earnings, the Federal Reserve's initial rate cut of 2025, and encouraging developments in US-China relations. The S&P 500 increased by 0.3%, the Nasdaq 100 rose by 0.5%, and the Dow Jones Industrial Average climbed by over 100 points, building on the record levels achieved in the prior session. FedEx saw a nearly 3% increase following better-than-anticipated financial results, while Apple surged by 2.8% thanks to a price target boost from J.P. Morgan and the unveiling of its latest iPhone. Tesla experienced a 1.5% rise after Baird elevated its rating to "outperform," providing a lift to both the technology and consumer discretionary sectors. Elsewhere, the markets monitored an extensive conversation between President Trump and China’s President Xi Jinping, during which Trump emphasized advancements in trade discussions, control of fentanyl, and the possibility of a TikTok agreement. Despite experiencing some volatility, all three major indexes are set to end the week with significant gains, highlighting the robustness of the ongoing market rally.