Stocks extended their record-setting run last week with the S&P 500 and the Dow closing Friday at record highs as a blockbuster jobs report bolstered the outlook for corporate profits.

The S&P 500 halted a six-day winning streak on Friday but ended positive for the week. Five of those six days, the S&P 500 had closed at fresh all-time highs. Economic data largely supported a healthy soft-landing outlook, somewhat tainted by several less-than-ideal earnings.

Technology stocks continued to power U.S. equities higher last week with the S&P 500 closing at a new all-time high as the index pushed past its high-water mark set at the end of 2021. For the week, the tech-heavy Nasdaq Composite led the way with a 2.3% gain, while the S&P 500 increased 1.2% and the Dow Jones notched a 0.8% return.

The second week of 2024 was pretty quiet for the markets with large-cap and mid-cap stocks seeing gains and the S&P 500 ending in positive territory year-to-date, despite inflation data coming in a little hotter than expected and a soft start to corporate earnings season.

Financial markets kicked off 2024 on a weaker note following last year’s robust returns. The major U.S. large cap equity benchmarks broke nine-week winning streaks as the mega-cap tech stocks that drove much of last year’s market gains faltered out of the gate.