Tech Giants Push Stocks to Big Week

US stock indexes closed their best week in two months with a flourish on Friday.

• The Dow rose 334.70 points, or 0.8%, to 43,487.83, up 3.7% for the week.
• The S&P 500 rose 59.32 points, or 1%, to 5,996.66.
• The Nasdaq rose 291.91 points, or 1.5%, to 19,630.20.

SLB helped lead the market after the provider of services to oilfields delivered bigger profit and revenue for the end of 2024 than analysts expected, the AP reports. It jumped 6.1% after it raised its dividend by 3.6% and said it's returning $2.3 billion to its investors by buying back its own stock. The most forceful pushes upward came from Big Tech stocks. All the companies in what's come to be known as the Magnificent Seven rose: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. They've been under pressure recently because of criticism their stock prices may have shot too high after leading the market for so many years.

Truist Financial rose 5.9% Friday after joining the list of banks to report better profits for the end of 2024 than analysts expected. The company said its average deposits rose 1.5% during the quarter, and it followed bigger-than-expected profit reports from large rivals like Wells Fargo, Citigroup, and others. Other smaller, regional banks reported mixed results on Friday. Regions Financial fell 1.2%. JB Hunt Transport Services dropped 6.5% for the biggest loss in the S&P 500 after falling short of analysts' expectations for profit in the latest quarter. Higher equipment and insurance-related costs helped drag on its results. (More Wall Street stories.)