US equity markets consolidated near record highs as geopolitical uncertainty returned and a blockbuster earnings season powered further upside, though gains were more modest than the prior week’s surge. The S&P 500 added roughly +0.6% on the week to close at a fresh record, the Nasdaq climbed +1.5% to a new all-time high on Friday, while the Dow slipped -0.4%, weighed by defensive laggards as rotation into tech accelerated.