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
The Republic of Korea (ROK)'s former impeached President Yoon Suk-yeol on Friday was sentenced to five years in prison on arrest obstruction charges.
The criminal division of the Seoul Central District Court in charge of Yoon's obstruction of justice case handed down the prison sentence to Yoon for abusing the presidential security service to hinder the anti-corruption agency from executing its arrest warrant in January 2025.
The Corruption Investigation Office for High-ranking Officials (CIO) was once thwarted in its attempt to arrest Yoon as the presidential security service formed human shields and bus blockades to prevent investigators from entering the presidential residence.
The team of Cho Eun-suk, an independent counsel who led investigations into Yoon's insurrection and other charges, demanded a 10-year prison term for Yoon.
The court said Yoon privatized the presidential security service for personal safety and private interests by blocking the law enforcement agencies' lawful execution of an arrest warrant and attempting to destroy evidence, pointing out that despite the very bad nature of his crime, he consistently offered unconvincing excuses and showed no remorse.
The court stressed that severe punishment was necessary, considering the need to restore the rule of law damaged by Yoon's crime, but it noted that the fact that he was a first-time offender with no criminal record was considered a favorable factor.
The sentencing, which was broadcast live, was Yoon's first verdict coming from his botched martial law bid.
The first-instance sentencing for Yoon's insurrection charges was scheduled for Feb 19. The special counsel sought a death penalty for Yoon on the charges.
Yoon declared emergency martial law on the night of Dec 3 in 2024, but it was revoked hours later by the National Assembly.
The constitutional court upheld a motion to impeach Yoon in April 2025, officially removing him from office.
The ousted leader was indicted while in detention in January 2025 on charges of leading an insurrection, becoming the first sitting ROK president facing such prosecution.
ROK ex-president Yoon sentenced to 5 years in prison on arrest obstruction charges
