Investing.com — The Nasdaq closed at a record, and the S&P 500 finished the day four points from its best once again, with tech holding on strong. The Dow struggled to keep up.
As of Friday, 91% of S&P 500 companies posted results, of which 81% came in above lowered expectations, according to Refinitiv data. And more earnings are expected this week.
Chipmaker Nvidia (NASDAQ:NVDA) hit a record as Susquehanna and Oppenheimer raised price targets ahead of quarterly results on Wednesday.
The S&P 500 retailing index rose 1.4%, with Walmart (NYSE:WMT) and Target Corp (NYSE:TGT) set to report results in the coming days. Home improvement chains such as Lowe’s (NYSE:LOW) and Home Depot (NYSE:HD) were also higher ahead of their earnings later in the week.
Gold prices jumped more than 2%, briefly recapturing the $2,000 an ounce perch for the first time in nearly a week, as a renewed drop in Treasury yields pushed investors back toward safe-havens.
The Democratic National Convention kicks off tonight, with Joe Biden to become the party’s official nominee.
— Reuters and Bloomberg contributed this report