Investing.com - A quick look at what rocked U.S. markets this week.
1. 'Trump rally' remains on track
U.S. equities continued the rally from a week ago, The S&P 500, NASDAQ Composite and Dow closed at record highs on Friday, after all three indexes set record highs for five straight sessions. The remarkable run in U.S. equities saw the Dow stretch its run of record high closes to seven.
2. Apple shares post new all-time high
Apple Inc (NASDAQ:AAPL), hit an all-time new high of $136.27 on Wednesday, after Goldman Sachs upgraded its target price for Apple shares to $150. Apple confounded critics in its most recent quarterly report as it revealed record revenues.
3. U.S. crude supply glut continues
Data from the Energy Information Administration released Wednesday revealed U.S. crude inventories rose to an all-time high.
The glut in U.S. crude inventories overshadowed reports that The Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, were in compliance with last year’s agreed production cut.
4. Yellen kept rate hike hopes alive
Federal chief Janet Yellen said in a two-day congressional testimony that “the economy was coming close to achieving Fed mandates” and it would be “unwise” to keep interest rates lower for longer.
5. Kraft Heinz shares surged 10% after a bid for Unilever
Kraft Heinz (NASDAQ:KHC) announced on Friday a proposed $143 billion merger with Anglo Dutch company, Unilever (LON:ULVR), but the offer was swiftly rejected.