The major averages close out another positive week at new all time highs following the Federal Reserve’s first interest rate cut of the year. The Dow Jones Industrial Average

 added 134 points, or 0.3%, reaching a fresh record high. The S&P 500 gained 30 points or 0.3% at a new high while the Nasdaq Composite rose 125 points or 0.55% to a new high.

The small-cap Russell 2000 was one of the few major indexes to pull back today after a fresh one year record high earlier in the day.

Wall Street is on pace to post strong weekly gains. The S&P 500 and Dow are up 0.8% and 0.7%, respectively, while the Nasdaq is up 1.7%. The Russell 2000 has outperformed, rising more than 2%, and on pace for its seventh weekly advance.

Apple is leading the tech sector and the major averages higher today as their new iPhone 17 went on sale around the world. CEO Tim Cook was in Manhattan to greet customers. JP Morgan also upgraded Apple with a $280 prince target.

Software is rebounding today. Oracle is up 3% today and up 40% in the last month on earnings and blow out guidance in AI demand. Palantir is up 3% on a billion dollar investment from the UK. Many of the top tech CEOs were in England this week with President Trump making deals with one of our strongest allies.

U.S. Treasury yields rose today, hitting a two week high even as the Federal Reserve cut rates this week on Wednesday. The 10-year Treasury note yield gained 2 basis points to 4.12%. The 2-year Treasury yield added less than a basis point to 3.57%.

In the commodity space, oil is down over a percent today dragging the energy sector with it. Gold was up a percent while crypto currencies were down 2% or more.

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