S&P 500 sets record as Wall Street caps second winning week, best since April

The S&P 500 closed at a record 7,757.64 points Friday, up 0.62%, securing a second consecutive weekly gain and Wall Street's best week since April. The Nasdaq jumped 1.30% to 26,690.61, up 5.3% for the week on a chip-stock rebound. The Dow rose 0.28% to 54,036.93, gaining 3% weekly. The S&P advanced 3.6% over the week. Oil prices edged higher as WTI reached $78.18 and Brent $83.55 per barrel, awaiting a potential US-Iran agreement to open the Strait of Hormuz, which Treasury Secretary Scott Bessent said could conclude soon.