Risk appetite surged at the end of the trading week, with the S&P 500 breaking above 6,190 and the Nasdaq 100 extending all-time highs, as investors responded to easing trade tensions and geopolitical risks with robust buying.

President Donald Trump said the U.S. is in the process of finalizing multiple trade agreements, suggesting that four to five deals are either completed or close to completion ahead of a key July 9 deadline. Sentiment was further lifted after Commerce Secretary Howard Lutnick confirmed a new U.S.-China trade accord that includes tariff reductions and safeguards for rare earth imports.

Dow Eyes 44,000 As Blue Chips Shine

The Dow Jones Industrial Average climbed steadily near the 44,000 mark, outperforming other major indexes on the back of major gains among blue-chip names.

Nike Inc. NKE jumped 18%, marking its best trading day ever, after reporting quarterly earnings that crushed Wall Street expectations. Boeing Inc. BA advanced 4% following a bullish analyst note from RedBurn Atlantic.

NVIDIA Corp. NVDA extended its leadership role in the AI sector and beyond, pushing past a $3.8 trillion market capitalization and reinforcing its position as the world's most valuable company.

GE Aerospace GE gained 3.5%, reaching its highest level in 17 years.

Nearly every S&P sector closed in the green except for energy, which lagged sharply as oil prices headed for their worst weekly drop since March 2023. The easing of military tensions in the Middle East helped pull crude lower, capping a volatile stretch for commodities.

Gold also saw selling pressure, dropping 1.6% to $3,270 per ounce, as traders rotated into risk assets and shrugged off traditional safe havens.

The U.S. dollar extended its losing streak to a seventh straight session, dragging the U.S. Dollar Index to its lowest level since February 2022 — just before the Russian invasion of Ukraine. The dollar is now on track for its worst first half of a year since 1991, weighed down by dovish Fed expectations and U.S. fiscal uncertainties.

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF VOO rose 0.7% to $567.88.
• The SPDR Dow Jones Industrial Average DIA rose 1.2% to $439.25.
• The tech-heavy Invesco QQQ Trust Series QQQ inched 0.5% higher to $548.91.
• The iShares Russell 2000 ETF IWM rose 0.7% to $216.94.
• The Consumer Discretionary Select Sector SPDR Fund XLY outperformed, up 1.4%; the Energy Select Sector SPDR Fund XLE lagged, down 0.8%.

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