S&P 500 Sets to Extend Record Streak Amid Trade Progress

US stocks were higher in the afternoon trading, with the S&P 500 and Nasdaq hovering near record highs as investors digested a flurry of trade updates and earnings results.

The S&P 500 climbed 0.4%, heading for a fifth straight record close—its longest streak in over a year—while the Nasdaq also hit an intraday high.

Optimism around trade talks helped fuel the rally, with President Trump set to meet European Commission President Ursula von der Leyen on Sunday amid hopes for a US-EU deal.

Agreements were also reached with Japan, Indonesia, and the Philippines ahead of the August 1 tariff deadline, though talks with Canada have stalled.

Strong earnings from Alphabet and Verizon boosted sentiment, while Intel weighed on tech after warning of losses and announcing layoffs.

Traders also looked ahead to next week’s Fed meeting and a packed slate of earnings, including Apple, Meta, and Microsoft.

All three major indexes were on pace to post weekly gains of over 1%.