U.S. stocks advanced on Friday, with all three major indexes closing at fresh record highs for a second straight session, as investors weighed the continued impact of the Federal Reserve's latest rate cut.
The Dow Jones Industrial Average rose 172.85 points, or 0.37 percent, to 46,315.27. The Standard and Poor's 500 gained 32.40 points, or 0.49 percent, to 6,664.36. The Nasdaq Composite Index climbed 160.75 points, or 0.72 percent, to 22,631.48.
Seven of the 11 primary Standard and Poor's 500 sectors ended in green, with technology and utilities leading the gainers, up 1.19 percent and 0.65 percent, respectively. Energy and real estate lagged, falling 1.28 percent and 0.47 percent, respectively.
In corporate news, Apple shares jumped 3.2 percent as its new iPhone 17 models hit global shelves. FedEx gained nearly 3 percent after reinstating its full-year outlook. Lennar fell 3.3 percent after reporting weaker-than-expected quarterly results. Intel, which had surged nearly 23 percent on Thursday, slipped 3.24 percent, while Nvidia was little changed after its prior-session rally.
U.S. stocks close higher as Fed policy buoys sentiment
Political figures across Japan have strongly denounced Japanese Prime Minister Sanae Takaichi's remarks after she hinted at the possibility of military involvement in the Taiwan Strait.
Critics expressed concerns over the legal basis, policy logic, and potential regional security risks stemming from her statements, which they said will exacerbate tensions in Japan-China relations.
Komeito chief Tetsuo Saito said that although Takaichi acknowledged in the Diet that her remarks do not necessarily reflect the government's unified view, they nonetheless undermine the foundation of national policy.
He emphasized that any statement by the prime minister's in the Diet should not violate national policies, adding that the remarks carry serious influence and must be corrected.
Three former prime ministers Shigeru Ishiba, Yoshihiko Noda and Yukio Hatoyama have also criticized Takaichi's comments.
Japanese Communist Party (JCP) Policy Commission Chair Taku Yamazoe said on Friday that to prevent the deterioration of Japan-China relations, Takaichi should retract her erroneous statements.
Mizuho Fukushima, head of the Social Democratic Party, said that Takaichi's remarks were entirely irrational, stressing that Japanese society must work to prevent war and halt this dangerous policy.
Yoichi Iha, former mayor of Ginowan City in Okinawa Prefecture and current senator, warned that Takaichi's statements could lead to significant casualties for Japan's Self-Defense Force. He said that Japan's recent military buildup has been increasingly aligned with U.S. strategic frameworks, and that it is vital for Japan to break free from this trajectory.
Ukeru Magosaki, a former Japanese foreign ministry official said that the Taiwan question is purely China's internal affair, and Japan must honor its political commitments regarding Taiwan.
"In 1972, China and Japan jointly issued a statement that clearly stated Japan recognized and respected the position that 'Taiwan is an inalienable part of the territory of the People's Republic of China.' Regrettably, Takaichi is now ignoring this commitment made by Japan to China, and this is the biggest problem," he said.
Takaichi's remarks on Taiwan draw wide criticism from Japanese political figures
