LIVE MARKETS-Wall Street ends the week in a record good mood

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WALL STREET ENDS THE WEEK IN A RECORD GOOD MOOD

Wall Street's S&P 500 .SPX, Nasdaq Composite .IXIC and Dow .DJI all ended the week with record closing highs as the data-starved market sighed with relief after the government's delayed September inflation report came in a little softer than expected, and some technology news also helped lift investors' moods.

The Nasdaq led gains and marked its 33rd record closing high so far this year. The Dow was the second biggest gainer on the day for its 13th record close in 2025 and marked its first close above the 47,000 level. The S&P 500, finished up 0.8% marking its 34th closing record for the year. While the benchmark index poked its head above the 6,800 level for the first time during the session it pared gains by 4 p.m.

Speaking of record closes, the S&P 500 Tech Sector .SPLRCT led sector advances and also notched a record closing high. IBM IBM.N, its biggest percentage gainer on the day, had quite a dramatic end to its week, finishing up 7.9%. This was after an intraday drop of more than 7% on Thursday that was then followed by erasing of most of those losses after a mixed reaction to its quarterly report, released after the bell Wednesday.

IBM's news on Friday was that it is able to run a key quantum computing error correction algorithm on commonly available chips from Advanced Micro Devices AMD.O in a step toward commercializing super-powerful computers. The update also seemed to put quite the pep in AMD's step too, as the chipmaker closed up 7.6%, as tech's second biggest gainer.

Technology's ascent also came with a good bit of broad enthusiasm for chip stocks as the Philadelphia Semiconductor Index .SOX rose 1.9%, also boasting a record close.

Let's see if tech and the Nasdaq can continue the momentum with next week's earnings menu including Meta Platforms META.O, Microsoft MSFT.O, Alphabet GOOGL.O, Amazon.com AMZN.O and Apple APPL.O - five of the so-called "Magnificent Seven" group of megacap momentum stocks.

Among the S&P 500's 11 major sectors, energy .SPNY was the weakest, down 1% on the day while Tech rose 1.6% and was followed by Communication Services .SPLRCL, which added 1.3%.

Here is your closing snapshot:

(Sinéad Carew, Terence Gabriel)

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