Stock market today: Wall Street notches more records and logs its latest winning week

NEW YORK — U.S. stocks rose to more records and closed out their longest weekly winning streak of the year. The S&P 500 rose 0.4% Friday. The benchmark index squeaked past the all-time high it set early this week and logged is sixth straight winning week. The Dow Jones Industrial Average added 0.1% to its own record set the day before, and the Nasdaq composite gained 0.6%.

It helped offset a 5.5% drop for CVS Health, which said it’s likely to report a profit for the latest quarter that’s well below what analysts had been expecting. The company also said David Joyner, an executive vice president, is taking over as president and CEO for Karen Lynch. David Lefkowitz, head of U.S. equities at UBS Global Wealth Management, sees both sides. But while stock prices are indeed high relative to profits, he says they're"reasonable" when considering the Fed is cutting interest rates and other factors.

Oil prices tumbled this week as worries receded that Israel will attack Iranian oil facilities as part of its retaliation for Iran’s missile attack early this month. Iran is a major producer of crude, and a strike could upend its exports to China and elsewhere. Concerns about the strength of demand from China have also hit oil prices.

In the bond market, Treasury yields eased. The yield on the 10-year Treasury fell to 4.07% from 4.10% late Thursday.

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