After early‑week profit-taking, compounded by rate‑driven volatility, the S&P 500 reversed course and continued its upward grind, closing higher for an 8th consecutive week. While the S&P 500 and Nasdaq 100 had already surpassed their mid‑April pre–U.S.–Iran war highs, the Dow Jones Industrial Average reached a new all‑time high on Friday, further supporting bullish sentiment. Although the 10-year yield touched an intra-week high of 4.69% on inflation concerns, progress in U.S.–Iran peace talks, as noted by the U.S. administration, helped ease some investor concerns. Nvidia, the world’s largest company and a bellwether for AI, reported earnings that significantly exceeded expectations, providing an additional boost to market sentiment.