U.S. Stocks Surge, Notch Best Weekly Gain in Two Months

Major U.S. stock indexes closed their best week in two months on Friday, fueled by optimism over a potential interest rate cut by the Federal Reserve later this year.

Market Highlights:

* The S&P 500 climbed 1% to 5,996.66, gaining 59.32 points.
* The Dow Jones Industrial Average rose 0.8% to 43,487.83, adding 334.70 points.
* The Nasdaq composite surged 1.5% to 19,630.20, up 291.91 points.
* The Russell 2000 index of smaller companies gained 0.4% to 2,275.88, rising 9.09 points.

Weekly Performance:

* The S&P 500 jumped 2.9% or 169.62 points.
* The Dow rallied 3.7% or 1,549.38 points.
* The Nasdaq climbed 2.4% or 468.57 points.
* The Russell 2000 soared 4% or 86.65 points.

Year-to-Date Performance:

* The S&P 500 is up 2% or 115.03 points.
* The Dow has gained 2.2% or 943.61 points.
* The Nasdaq has risen 1.7% or 319.41 points.
* The Russell 2000 has increased 2.1% or 45.72 points.

Market Drivers:

* Oilfield Services Boost: Schlumberger (SLB) lifted the market after announcing increased shareholder returns through dividends and stock buybacks.
* Big Tech Support: Tech giants helped boost the market amid hopes of lower interest rates.
* Bond Market Stability: Treasury yields held steady after earlier declines, providing support for stocks.