New York stock indexes notched fresh record highs again as Apple's strong results and a drop in global oil prices aligned.
On the 1st (local time) in New York, the Standard & Poor's (S&P) 500 index ended at 7,230.12, up 21.11 points, or 0.29%, from the previous session. The tech-heavy Nasdaq composite closed at 25,114.44, up 222.13 points, or 0.89%.
The S&P 500 set a record high for the second straight day, and the Nasdaq finished above the 25,000 mark for the first time on a closing basis. In contrast, the Dow Jones industrial average, composed of 30 blue-chip stocks, fell 152.87 points, or 0.31%, to close at 49,499.27.
Apple led the market's gains. After issuing an outlook and net income that topped market expectations the previous day, Apple rose 3.24%. While weaker-than-expected iPhone sales were a drag, overall profitability and the outlook eased investor concerns.
Meanwhile, five of the Magnificent 7 (M7) corporations that released results this week all beat market forecasts, bolstering sentiment for tech stocks. Despite ongoing geopolitical uncertainty in the Middle East, it was confirmed that large U.S. technology companies continue to generate solid profits and make large-scale investments centered on artificial intelligence (AI).
Meanwhile, global oil prices fell as the possibility of resuming peace talks between the United States and Iran came to the fore, easing some concerns about crude supply. Brent futures settled at $108.17 a barrel, down 2.0% from the previous session, and U.S. West Texas Intermediate (WTI) futures closed at $101.94 a barrel, down 2.98%.