The Nasdaq hit a record high on Friday, as investors piled into technology companies on optimism around artificial intelligence and the prospect for looser monetary policy, putting the index on track to confirm a bull market.

The Nasdaq 100 soared 30% in just 12 weeks, reaching new all-time highs in June 2025. While past instances of such momentum are rare, most led to extended bull markets.

US equities pressed higher after Treasury secretary Scott Bessent said he expects the US to have secured major trade deals by early September.