US equity markets advanced on Friday (16 August) to cap their best week of 2024 to date, with the S&P 500 and Nasdaq - Dow added +97-points or +0.24%, rising for a sixth time in seven sessions.
The broader S&P500 rose +0.20%, with Financials (up +0.62%) leading eight of the eleven primary sectors higher. Ulta Beauty Inc rose +3.12% and extended gains after regulatory filing late last week revealed Warren Buffett's investment vehicle Berkshire Hathaway Inc had acquired an ~US$266M stake in the cosmetics retailer. Amcor Plc lost -3.69% to be the worst performer in the S&P 500 after the packaging giant missed revenue estimates and provided weak guidance after the close of the previous session as volumes for healthcare and North American beverage companies remained soft.
The Nasdaq edged +0.21% higher.