S&P 500 Surpasses 5,000 for the First Time on Strong Earnings Stocks surged on Friday, propelling the S&P 500 index above 5,000 for the first time, driven by robust earnings reports. This milestone comes shortly after the index reached record levels, reflecting a market buoyed by subdued inflation, rising corporate profits, and anticipated lower borrowing costs. The S&P 500 closed at 5,026.61, up over 5% year-to-date and nearly 40% since October 2022. Tech giants like Apple, Microsoft, Meta, Amazon, and Alphabet significantly influenced the rally with impressive earnings. The market optimism persists despite the Federal Reserve's cautious stance on interest rate adjustments. Jerome H. Powell suggested a potential rate cut in May, dampening previous expectations for a March adjustment.