S&P 500 closes at record as earnings beat forecasts
Strong results from consumer and technology companies pushed the benchmark to its second record close of the week.
Key points
- S&P 500 closed at 5,647.12, up 0.4%
- Nasdaq 100 rose 0.8 percent
- About 78% of reporters beat profit estimates
- Consumer spending rose in July
Why it mattersThe record close shows equity investors are leaning into the combination of easing inflation and steady growth, a setup that has rarely held for long.
The S&P 500 closed at a record on Thursday, its second of the week, as a batch of corporate earnings beat expectations and data pointed to a resilient consumer.
The benchmark finished up 0.4 percent at 5,647.12. The Nasdaq 100 gained 0.8 percent, lifted by large technology stocks. Bloomberg reported that about 78 percent of companies reporting this season had topped profit estimates.
The Commerce Department said earlier that consumer spending rose in July, while a separate measure of inflation closely tracked by the Federal Reserve continued to ease.
Bonds were little changed. The yield on the two-year Treasury held near 4.3 percent.
Markets are pricing a high probability of a Federal Reserve rate cut next month, though the size of the move remains debated.
Newsflint reports market information for general interest only. Nothing here is investment advice.
Reported by
- Bloomberg — S&P 500 notches record as earnings season impresses · 2026-08-28T21:00:00Z
- The Wall Street Journal — Stocks rise as consumer spending data reassures · 2026-08-28T21:30:00Z