The split between Wall Street and most U.S. households grew wider Friday as U.S. stocks rose to the finish of their eighth straight winning week, the best such streak since 2023. That’s even though a survey showed U.S. consumers are feeling even worse about the economy.
The S&P 500 added 0.4% and pulled closer to its all-time high set in the middle of last week. The Dow Jones Industrial Average rose 294 points, or 0.6%, and the Nasdaq composite gained 0.2%.
Ross Stores helped drive the market and rose 8.1% after the off-price retailer reported profit and revenue for the latest quarter that easily cleared analysts’ expectations. CEO Jim Conroy said it saw strong customer traffic through the three months, and the company may have benefited from households spending their tax refunds.
Estee Lauder jumped 11.9% after saying it was no longer considering a possible merger with Puig, the Spanish fragrance and beauty products company.
Workday rose 5.2%, and Zoom Communications jumped 9.2% after both delivered better profit reports for the latest quarter than analysts expected.
