Wall Street closed its latest winning week with more gains Friday, pushing U.S. stocks to new heights.
The S&P 500 rose 40.81 points, or 0.8%, to 5,137.08 a day after setting an all-time high. It’s been on a tremendous run and has climbed in 16 of the last 18 weeks because of excitement about cooling inflation and a mostly resilient U.S. economy.
The Dow Jones Industrial Average gained 90.99, or 0.2%, to 39,087.38. Technology stocks led the market, and the Nasdaq composite jumped 183.02, or 1.1%, to 16,274.94 a day after surpassing its prior record set in 2021.
In the bond market, Treasury yields eased after reports on manufacturing and sentiment among U.S. consumers came in softer than economists expected.
Boeing confirms it’s in talks to buy Spirit AeroSystems
Boeing said Friday that it is in “preliminary discussions” to buy Spirit AeroSystems, which builds fuselages for Boeing 737 Max jetliners, including the one that suffered a door-panel blowout on an Alaska Airlines flight in January.
Boeing used to own Spirit, and it said that bringing the manufacturer back into the Boeing fold would improve plane quality and safety, which has come under increasing scrutiny by regulators, Congress and airlines.
The announcement confirmed media reports that the two companies were talking about a deal. Reaching one could help Boeing respond to critics who have blamed the company’s manufacturing problems in large part on outsourcing key work to Spirit and other suppliers.