The S&P 500 rose 21.58 points, or 0.5%, to 4,566.48 and surpassed its last record set Thursday. The Dow Jones Industrial Average also reached an all-time high after adding 64.13, or 0.2%, to 35,741.15. The Nasdaq composite picked up 136.51, or 0.9%, to 15,226.71.
Tesla jumped to the biggest gain in the S&P 500 after Hertz said it will buy 100,000 Model 3 vehicles for its fleet. The landmark deal for the electric vehicle industry sent Tesla up 12.7%, and because it’s one of the biggest stocks in the market, Tesla’s moves have an outsized effect on the S&P 500.