U.S. stocks rose for an eighth straight winning week, with the S&P 500 gaining 0.4%, the Dow rising 0.6%, and the Nasdaq increasing 0.2%. Ross Stores surged 8.1% after reporting quarterly profit and revenue above analysts’ expectations, citing strong customer traffic and possible support from spending tax refunds. Estee Lauder jumped 11.9% after dropping consideration of a potential merger with Puig. Workday rose 5.2% and Zoom Communications gained 9.2% after both reported better-than-expected quarterly results. Corporate earnings strength for early 2026 helped keep stocks near record levels. Meanwhile, a University of Michigan survey showed consumer sentiment fell to a record low, with inflation forecasts rising and longer-run expectations increasing.
"U.S. stocks rose to the finish of their eighth straight winning week, the best such streak since 2023. That's even though a survey showed U.S. consumers are feeling even worse about the economy. The S&P 500 added 0.4% and pulled closer to its all-time high set in the middle of last week. The Dow Jones Industrial Average rose 294 points, or 0.6%, and the Nasdaq composite gained 0.2%."
"Ross Stores helped drive the market and rose 8.1% after the off-price retailer reported profit and revenue for the latest quarter that easily cleared analysts' expectations. CEO Jim Conroy said it saw strong customer traffic through the three months, and the company may have benefited from households spending their tax refunds. Estee Lauder jumped 11.9% after saying it was no longer considering a possible merger with Puig, the Spanish fragrance and beauty products company."
"Workday rose 5.2%, and Zoom Communications jumped 9.2% after both delivered better profit reports for the latest quarter than analysts expected. They're the latest companies to top analysts' expectations for earnings for the start of 2026, and the cavalcade of such reports has helped U.S. stocks remain near their records. Stock prices tend to follow the path of corporate profits over the long term."
"The strength is coming even after a survey of U.S. consumers by the University of Michigan found sentiment fell to a record low, piercing below a bottom in 2022 when inflation peaked above 9%. Households are feeling worried about how bad inflation is now because of expensive oil created by the war with Iran. U.S. consumers are forecasting inflation will worsen to 4.8% in the coming 12 months, up from a forecast of 4.7% last month, according to the survey."
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