Stock indexes closed higher on Friday, with the S&P 500, Nasdaq 100, and Dow Jones all reaching new highs. Optimism about the economy and potential Fed rate cuts supported stocks. Semiconductor stocks were strong. US Sep personal spending met expectations, while personal income exceeded expectations. President Trump may name a new Fed Chair in early 2026. The markets expect a 95% chance of a -25 bp rate cut in December. Q3 earnings are strong, with 83% of S&P companies beating forecasts. Overseas markets were mixed. T-notes fell as stocks rose. European bond yields rose. Eurozone GDP was revised upward. German factory orders beat expectations. ECB cuts unlikely.

Chip makers like Micron, Intel, and Broadcom led the market higher, while cryptocurrency stocks like Galaxy Digital and Riot Platforms fell on Bitcoin’s drop. Rubrick and Ulta Beauty had strong earnings reports. ServiceTitan and Warner Bros Discovery also gained. Salesforce raised EPS guidance. Parsons Corp and SentinelOne fell after contract issues. DocuSign and SoFi were down on forecasts. Albemarle and Humana rose on upgrades. Earnings reports expected for BNED, CMP, MAMA, ODC, OOMA, PHR, RZLV, and TOL on 12/8.

Read more at Barchart: Stocks Finish Higher as Price Pressures Ease