Posted 2/9/2024, 11:20:48 PM
S&P 500 Closes at Record High Above 5,000 as Earnings Lift Stocks, Though Pepsi Sales Lag
- S&P 500 closes above 5,000 for the first time ever on Friday, reaching a record high
- Inflation data showing lower prices and strong corporate earnings reports lifted stocks
- Big Tech stocks like Amazon, Meta, Microsoft and Nvidia powered a large part of the market's gains
- PepsiCo shares slip over 3% as quarterly sales miss expectations amid price hikes
- Ad revenue continues to be a pain point for companies like AMC Networks, Disney and Fox amid shifts in the market