Stocks Hit Record Highs as Retail Sales Buoy Investor Hopes for Later Fed Rate Hike
• Stocks climbed on Friday, with the S&P 500 and Dow hitting fresh record closing highs. Tech stocks led the gains, with the Nasdaq gaining 1.7%.
• Strong retail sales data and consumer sentiment pushed investor expectations for the Fed's first rate cut to May from March.
• Earnings season continues next week with reports from American Express, Visa, Tesla, Netflix and more. Key economic data like PCE inflation is also on tap.
• Spirit Airlines stock rebounded over 20% after the airline raised Q4 guidance and said it is assessing options to refinance debt.
• EU antitrust officials told Amazon they will likely reject the proposed $1.7B acquisition of iRobot. iRobot shares plunged 30% on the news.