Following the pullback seen over the course of the previous session, stocks showed a strong move back to the upside during trading on Friday. The tech-heavy Nasdaq led the way higher and reached a new record closing high along with the S&P 500.
The Nasdaq saw further upside going into the end of the day, surging 440.88 points or 1.7 percent to 26,247.08. The S&P 500 also advanced 61.82 points or 0.8 percent to 7,398.93, while the narrower Dow posted a more modest gain, inching up 12.19 points or less than a tenth of a percent to 49,609.19.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.