US stocks advanced Friday, with the S&P 500 rising 0.4% to secure its eighth
straight weekly gain, the longest winning streak since 2023, while the Dow Jones
Industrial Average climbed 0.6% after reaching a record high a day earlier. The
Nasdaq Composite added 0.2%. Markets rebounded after midweek optimism over
potential US-Iran progress eased concerns about inflation and energy prices,
though uncertainty remained over Iran’s uranium stockpile and the Strait of
Hormuz. Separately, consumer sentiment fell to a record low in May, according to
the University of Michigan, as inflation expectations increased.
