S&P 500 Gains and Losses: Amex Soars, Gold Miners Retreat
American Express shares surged to a record high on Friday, fueled by robust spending among affluent cardholders and a refresh of its premium credit offerings. The company's quarterly earnings beat underscored the resilience of high-end consumer demand even as broader markets navigated volatility.
Gold prices retreated from recent peaks, dragging down shares of the world's largest Gold producer. The pullback in safe-haven assets coincided with a broader market rally that saw the S&P 500, Nasdaq, and Dow each gain 0.5% to close a turbulent week on positive footing.
Kenvue staged an impressive 8.4% rebound after Thursday's selloff, demonstrating the volatile nature of consumer health stocks amid litigation risks. Investors appeared to shrug off concerns about regional bank loans and geopolitical tensions, focusing instead on corporate fundamentals.
