05:15 PM EDT, 08/08/2025 (MT Newswires) -- The Nasdaq Composite closed at a record high on Friday as Wall Street posted the best week since June.

The tech-heavy Nasdaq climbed 1% to 21,450, logging gains for the third day in a row and notching a new closing high. The S&P 500 rose 0.8% to 6,389.5, just shy of a record close. The Dow Jones Industrial Average advanced 0.5% to 44,175.6.

Most sectors ended in the green, led by technology and communication services, while real estate saw the steepest decline.

For the week, the Nasdaq advanced 3.9%, the S&P 500 gained 2.4%, and the Dow rose 1.4%.

In company news, Apple ( AAPL ) rallied 4.2%, extending its winning streak into the third consecutive session. The stock is up 13% on the week.

The technology giant this week announced plans to invest an additional $100 billion in the US amid President Donald Trump's plans to impose 100% tariffs on semiconductor imports.

Monster Beverage ( MNST ) shares climbed 6.4% on Friday, among the best performers on the S&P 500. The energy drinks company late Thursday posted better-than-expected second-quarter results, with tariffs having an immaterial impact on its operations.

Trade Desk's ( TTD ) shares tumbled 39%, the worst performer on the S&P 500.

The company's latest financial outlook suggests a slowdown in underlying growth, making it even more difficult to downplay recent concerns around the business, BofA Securities said Friday.

On Thursday, Trade Desk ( TTD ) said it appointed Alex Kayyal as Chief Financial Officer, effective Aug. 21, replacing Laura Schenkein, who will remain with the company as a nonexecutive officer through the end of the year.

Under Armour ( UAA ) on Friday issued a fiscal second-quarter earnings outlook below market estimates amid ongoing macroeconomic uncertainties. The sportswear maker's class C and A shares sank 17% and 18%, respectively.

Elf Beauty ( ELF ) shares advanced 1.9% after Deutsche Bank upgraded the stock to buy from hold. The stock offers an attractive entry point for investors following Thursday's 9.5% slump in the share price that followed the cosmetics company's first-quarter results, the bank said.

US Treasury yields were higher intraday, with the two-year rate adding 3.5 basis points to 3.77% and the 10-year rate increasing 2.9 basis points to 4.29%.

St. Louis Fed President Alberto Musalem said inflation is still a bigger concern for the US central bank than the labor market, Bloomberg News reported Friday.

"The economy is such that we are missing on our inflation target," Musalem reportedly said. "We are not missing on our employment mandate. The labor market seems to be around full employment."

Last week, official data showed the US economy added fewer jobs than projected in July, while gains in the previous two months were revised sharply lower. The unemployment rate moved up to 4.2% from 4.1% in June.

On Thursday, Atlanta Fed President Raphael Bostic reportedly said that there's still a possibility that policymakers will reduce their benchmark lending rate once this year.

West Texas Intermediate crude oil was down 0.4% at $63.61 in Friday late-afternoon trade.

US Special Envoy Steve Witkoff met Russian President Vladimir Putin in Moscow on Wednesday, and later suggested that US President Donald Trump may meet with Putin as early as next week, Reuters reported Friday.

While it's unclear if Ukrainian President Volodymyr Zelenskyy will participate in the meeting, such development could affect secondary tariffs on India, ING Bank said in a note on Friday.

Trump recently announced an additional 25% tariff on imports from India in response to the Asian country's continued purchasing of sanctioned Russian oil.

Gold was up 0.1% at $3,455.30 per troy ounce.

US gold futures reached an all-time high Friday amid speculation that the yellow metal's imports may be subject to tariffs, though bullion gave up most of its gains as news emerged that gold bars would remain exempted from levies.