Equities Edge Higher as Tech and Housing Sectors Diverge
U.S. equities advanced modestly Friday, with the Dow, S&P 500, and Nasdaq Composite all poised to close at record levels. Apple shares gained traction as global sales commenced for its latest iPhone iteration, while FedEx rallied on stronger-than-expected earnings fueled by domestic shipment growth.
The housing sector showed weakness as Lennar's disappointing earnings underscored market softness. Semiconductor stocks faced pressure amid competitive concerns, with Micron Technology declining ahead of its earnings report. Commodities exhibited mixed performance—oil prices retreated while Gold advanced, and Treasury yields edged upward.