Tech Stocks Propel Nasdaq and S&P 500 to New Heights as Crude Prices Dip

The Nasdaq and S&P 500 indices reached new record closing highs on Friday, driven by robust corporate earnings and a drop in crude prices.

Analysts predict a significant 27.8% earnings growth for the first quarter, with technology stocks playing a key role in propelling the market forward. Despite geopolitical tensions impacting energy prices, the stock market's momentum appears set to continue into May.

Major technology shares rose, with companies like Apple and Atlassian providing strong forecasts. The overall optimism persists even as the market enters a traditionally weaker six-month stretch.

(With inputs from agencies.)