The Standard & Poor's 500 index rose 1.5% this week to another closing record in a broad advance led by the health care sector.

The index ended Friday's session at 6,388.64, its highest closing level ever. That marks the benchmark's fifth consecutive session closing at a record high. The S&P 500 also recorded a fresh intraday high on Friday at 6,395.82 and is now up 3% for the month and 8.6% this year.

The US announced trade deals with Japan and the Philippines this week. The US also has "a 50-50 chance of making a deal with the EU," President Donald Trump said Friday, ahead of a meeting on Sunday with European Commission President Ursula von der Leyen.

A number of stocks were also boosted by better-than-expected quarterly results.

All of the S&P 500's sectors rose. In the lead, health care climbed 3.4%, followed by materials, up 2.4%, and industrials, up 2.3%. Real estate and communication services added 2.2% each. Financials, energy and consumer discretionary added more than 1% each while utilities, technology and consumer staples also edged higher.

The best performer in health care was West Pharmaceutical Services (WST). Shares jumped 25% on the week as the company reported Q2 results that topped analysts' mean estimates and boosted 2025 guidance.

In materials, Newmont (NEM) shares climbed 13% as the company reported Q2 adjusted earnings per share and sales above analysts' mean estimates.

GE Vernova (GEV) had the largest percentage gain in industrials, up 12% as the company reported Q2 earnings per share and revenue above analysts' mean estimates. GE Vernova also said it now sees the year's revenue toward the higher end of its guidance range.

Next week's earnings calendar features Visa (V), Procter & Gamble (PG), UnitedHealth Group (UNH), Merck (MRK), Boeing (BA), Spotify Technology (SPOT), Microsoft (MSFT), Meta Platforms (META), Qualcomm (QCOM), Apple (AAPL), Amazon.com (AMZN), Mastercard (MA) and Berkshire Hathaway (BRK.A, BRK.B).

Economic data will include Q2 gross domestic product, the June personal consumption expenditures index and July employment data.