LIVE MARKETS-US stocks streak higher; Industrials sector scores record close

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US STOCKS STREAK HIGHER; INDUSTRIALS SECTOR SCORES RECORD CLOSE

Wall Street's main indexes ended higher on Friday and posted strong weekly gains, buoyed by the U.S.-China tariff truce earlier in the week, while soft consumer sentiment data on the day kept risk-taking in check.

The S&P 500 index .SPX added to gains as the session wore on, but stocks briefly lost ground in morning trading after the University of Michigan Surveys of Consumers said its Consumer Sentiment Index slumped further in May while one-year inflation expectations surged to 7.3% from 6.5% last month.

In any event, yields fell, and the SPX rose for a fifth-straight day. The index rose nine days in a row in early May, which was its longest winning streak since 2004.

For the week, the Dow .DJI rallied 3.4%, the S&P 500 gained 5.3%, and the Nasdaq composite .IXIC surged 7.2%.

The small-cap Russell 2000 .RUT added 4.5%, while the S&P 600 .SPCY added 4.6%. Both are now up six weeks in a row. They last rose six-straight weeks in December 2023.

Mid-caps are also on a weekly run. The S&P 400 mid-cap index .MID, which rose 4.8% on the week, is also up six weeks in a row. That's its longest weekly win streak since a nine-week run in March 2024.

Meanwhile, the benchmark S&P 500 index ended down just 3% from its February 19 record close.

And although it was just by a hair, the S&P 500 industrials sector .SPLRCI became the first sub-group to score a fresh record close.

Next in line may be utilities .SPLRCU, now down just 0.6% from its record finish, and financials .SPSY down 1.1% from its record close.

Here is a snapshot of where markets stood just shortly after 4:00 p.m. ET:

(Terence Gabriel)

FRIDAY'S EARLIER LIVE MARKETS POSTS:

INVESTORS READY FOR MORE US RETAIL RESULTS NEXT WEEK CLICK HERE

TREASURY YIELDS MAY FALL WITH MORE CLARITY ON U.S. BUDGET - CLICK HERE

INDIVIDUAL INVESTOR BULLS ADVANCE, BEARS RETREAT - AAII CLICK HERE

OVERCAST WITH CHANCE OF RAIN: UMICH, HOUSING STARTS/PERMITS, IMPORT PRICES CLICK HERE

U.S. STOCKS POST MODEST GAINS, BUT MARKED UP BIG FOR THE WEEK CLICK HERE

SOME BLURRED LINES, BUT GROWTH VS VALUE EYES RECORD HIGHS CLICK HERE

SCOPE FOR EUROPE'S BANKS TO UPGRADE GUIDANCE CLICK HERE

EUROPEAN CONSUMER STAPLES' H2 RECOVERY HOPES "MAY PROVE OPTIMISTIC" - MS CLICK HERE

LESSONS FROM APRIL'S TARIFF TURMOIL CLICK HERE

EUROPE IN THE GREEN, SET FOR FIFTH WEEKLY RISE CLICK HERE

EUROPE BEFORE THE BELL: STOCKS SET TO ROUND OFF POSITIVE WEEK IN THE GREEN CLICK HERE

TRADE-DRIVEN RALLY ENDS THE WEEK WITH A WHIMPER CLICK HERE