S&P and Nasdaq Close at Record Highs

The S&P 500 and Nasdaq closed in record territory on Friday with slight gains following news that the U.S. and China have agreed on Phase One of a trade deal.

The Dow Jones barely missed a record close as well but still ended up in positive territory at 28,135.38.

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Nestlé dismisses CEO after he has relationship with a subordinate

Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.

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