WALL ST CLIMBS, POWERED BY CHIPS, MEGACAPS

Wall Street's main indexes climbed on Friday, driven by strength in chip and megacap stocks, while investors remained vigilant about ongoing corporate earnings and any hints on the timing of rate cuts. The S&P 500 (.SPX), opens new tab is less than 1% from breaching its record high despite a rocky start to the week, following mixed earnings from top investment banks and mostly disappointing comments on the possibility of early interest-rate cuts from central bankers globally.

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