US stocks closed at a new high on Friday, as traders cheered softer-than-anticipated inflation data that underpinned expectations for Federal Reserve interest-rate cuts. Technology giants including Nvidia Corp, Apple Inc and Broadcom Inc led gains in the S&P 500 Index.

The benchmark rose 0.8 per cent, helped by advances in six of 11 sectors in the index, led by technology and utilities. The Nasdaq 100 Index climbed 1.0 per cent. The Bloomberg Magnificent Seven Price Return Index added 0.6 per cent.

Investor focus is now shifting toward next week’s packed earnings slate, with reports due from heavy-hitters Alphabet Inc, Meta Platforms Inc and Microsoft Corp after the close on Wednesday, and Apple Inc and Amazon.com Inc on Thursday.

“Next week is critical as the big Tech/AI names start re

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