Live Markets: S&P, Nasdaq close at records as Amgen weighs on Dow

Amgen

01/05/2026 21:24

Nasdaq rallies~0.9%, S&P 500 gains ~0.3%, Dow dips ~0.3%

Tech, Cons Disc only S&P sector gainers; Energy weakest group

Dollar rises slightly; bitcoin rallies >2%; gold slips; US crude off >2%

US 10-year Treasury yield edges down to ~4.38%

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S&P, NASDAQ CLOSE AT RECORDS AS AMGEN WEIGHS ON DOW

The S&P 500 .SPX and Nasdaq .IXIC rose on Friday to close out the trading week at record levels, after recording their best monthly performance since 2020 in April, buttressed by strong earnings and renewed hopes that peace talks between the U.S. and Iran could restart.

Tech .SPLRCT rallied more than 1% as the best-performing S&P 500 sector, powered by a gain of about 3% in Apple AAPL.O, which was the biggest boost to each of the three major indexes after the iPhone maker's quarterly earnings.

Earnings have helped stocks rally in recent weeks in the face of broken-down talks between the U.S. and Iran, and first-quarter earnings growth is now tracking at 27.8%, according to LSEG data, up from the 16.1% a week ago and 14.1% at the start of April.

Amgen AMGN.O shares were off about 5%, to weigh heavily on the Dow, after reporting quarterly earnings as the biotech company disclosed during its earnings call that it received a notice of proposed adjustment from the U.S. Internal Revenue Service (IRS) for tax years 2016 to 2018.

Energy .SPNY fell 1.3% as the worst-performing S&P sector, as both Exxon Mobil XOM.N and Chevron CVX.N shares were lower after their quarterly results, while crude prices dropped after Iran proposed new peace talks, although U.S. President Donald Trump said he was not satisfied with the latest Iranian proposal.

     For the week, the S&P 500 rose 0.9%, the Dow advanced 0.5%, and the Nasdaq gained 1.1%. The S&P 500 and Nasdaq secured their sixth straight week of gains, their longest since October 2024.

Below is your closing market snapshot:

(Chuck Mikolajczak)

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EARLIER ON LIVE MARKETS:

RUSSELL RANK DAY IN THE BOOKS CLICK HERE

DOMESTIC, CHEAP AND OVERLOOKED: CARSON GROUP PUTS A LENS ON SMALL CAPS CLICK HERE

DUELING PMIs: FACTORY ACTIVITY CONTINUED TO EXPAND IN APRIL AMID SOARING PRICES CLICK HERE

US STOCKS OPEN MAY ON A STRONG NOTE AFTER STELLAR APRIL CLICK HERE

RISK IS BACK—AND MOMENTUM IS RUNNING THE SHOW CLICK HERE

HOW UAE MOVE WILL AFFECT OIL PRICES CLICK HERE

TAKING STOCK CLICK HERE

TRADE IDEAS FOR A LONG-LASTING HORMUZ DISRUPTION CLICK HERE

FTSE FALLS IN HOLIDAY-THINNED TRADING CLICK HERE

LONDON BEFORE THE BELL: QUIET START CLICK HERE

NEVER MIND THE OIL, FEEL THE EARNINGS! CLICK HERE

Closing levels May 1 https://fingfx.thomsonreuters.com/gfx/mkt/akveyywoyvr/Pasted%20image%201777666213398.png

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