Stocks closed out the first week of October on a high note Friday, with all major indices posting solid gains and the S&P 500 clearing the psychologically significant 7,700 level, settling at 7,704.1 — a gain of 0.74% on the session. The tech-heavy Nasdaq led the charge, jumping 1.02% to close at 27,209.75, while the Dow Jones Industrial Average added 0.49% to finish at 50,788.01.
Small caps joined the party as well, with the Russell 2000 climbing 0.90% to 2,803.94 — a sign that the day's optimism wasn't confined to mega-cap names. The breadth of the rally suggests genuine risk appetite across the market rather than a narrow, index-driven move.
Tesla was the standout story of the session, surging 4.65% to $370.59 and serving as the primary engine behind the Nasdaq's outperformance. The move injected fresh energy into the electric vehicle and growth tech space. Meanwhile, gold continued to attract attention as a store of value, with the precious metal trading at $4,151.13 — reflecting persistent demand amid an uncertain macro backdrop.
Financials were the relative laggard of the day, with JPMorgan Chase edging down just 0.24% to $332.38 — a negligible dip that did little to dampen the overall bullish tone heading into the weekend.