US Stocks Close at New Record High Capping Solid Earnings Week

The S&P 500 Index extended a record-breaking streak Friday to mark a fifth week of gains after solid earnings from tech mega caps. Oil dropped amid hopes that the US and Iran were getting closer to a ceasefire agreement.

The S&P 500 Index closed 0.3% higher to at an all-time high, led by tech and consumer discretionary sectors. The Nasdaq 100 Index advanced 0.9%, also at a record. Most global markets were closed for the Labor Day holiday Friday. West Texas Intermediate crude oil fell nearly 3% to around $102 a barrel. The Vix Index was around 17.