The S&P 500 Index has been on an incredible rally this year, achieving new milestones and gaining 13.6% so far. The index has now crossed the 5,400 level for the first time after hitting the 5,300 threshold last month, underscoring strong confidence. The latest leg of the rally came on cooler-than-expected inflation data despite hawkish commentary from the Fed.
Crude oil futures fell for the third straight week due to OPEC's decision to unwind production cuts, while demand uncertainties and bearish data on US inventories added to concerns.
Shares of power producers fell sharply as traders unwound bets that utilities would benefit from the artificial-intelligence boom. Shares of TXU Energy owner Vistra Energy and Constellation.