S&P 500 logs seventh weekly gain despite Friday drop

The S&P 500 fell 1.2% on Friday after reaching multiple record highs earlier in the week, marking the steepest single-day decline for the benchmark since late March. The index nevertheless recorded its seventh straight weekly gain, the longest winning streak since 2023.

Friday’s pullback followed profit-taking and intraday volatility that pushed prices lower after this week’s highs. Despite the decline, the S&P 500 closed the week higher.

Year to date the S&P 500 is up about 8.22%. The S&P 500 Equal Weight Index is up roughly 5.05% for the year. Exchange-traded funds that track the cap-weighted index include SPY, IVV and VOO. Invesco’s RSP tracks the equal-weight index.

The S&P 500 has traded above its 50-day and 200-day moving averages since April 8, 2026. The 50-day moving average has been above the 200-day average since July 1, 2025.

Over the past 20 trading days the average intraday percent change from low to high has been about 0.82%. The largest intraday volatility since late 2018 occurred on April 9, 2025, when the index moved 10.77% intraday; the December 24, 2018 intraday move measured 19.10%.

On October 9, 2007 the S&P 500 closed at 1,565.15 before falling about 57% to 676.53 on March 9, 2009 during the Global Financial Crisis. The index did not exceed the 2007 peak again until March 28, 2013, when it closed at 1,569.19. The market also recorded notable selloffs in 2022.

Traders and portfolio managers are watching whether the index can hold key moving averages and extend its winning streak after Friday’s retreat.