Dow closes over 35,000 | Covid cases up in all 50 states | Economic growth likely has peaked

On Friday, the Dow Jones Industrial Average closed above 35,000 for the first time and all three major indexes closed at records. 

VIEW IN BROWSER | SUBSCRIBE FRI, JUL 23, 2021 EVENING BRIEF AS OF FRI, JUL 23, 2021 • 04:54 ET DJIA 35061.55 +0.68% +238.20 S&P 500 4411.79 +1.01% +44.31 NASDAQ 14836.99 +1.04% +152.39   Most Active DOW NAME LAST CHG %CHG AAPL 148.56 +1.76 +1.20% INTC 53.00 -2.96 -5.29% MSFT 289.67 +3.53 +1.23% S&P 500 NAME LAST CHG %CHG AAPL 148.56 +1.76 +1.20% INTC 53.00 -2.96 -5.29% BAC 37.70 -0.26 -0.68% NASDAQ NAME LAST CHG %CHG AAPL 148.56 +1.76 +1.20% INTC 53.00 -2.96 -5.29% FB 369.79 +18.60 +5.30%   EDITOR'S NOTE After last week's Friday slump spilled over into a Monday sell-off, investors would have been justified about what was next for stocks.   But Tuesday was a different day, as the market quickly regained much of its losses and then continued to churn higher throughout the week. On Friday, the Dow Jones Industrial Average closed above 35,000 for the first time, and all three major indexes closed at records.  This quick recovery doesn't mean volatility is in the rearview mirror for investors, but the underlying trends still look strong in the back half of 2021, according to Edward Moya, senior market analyst at Oanda.    "The growth story is still there for the third and fourth quarter, and while Wall Street could see a sell-off once we get beyond peak everything (stimulus, earnings, and growth), the S&P 500 index is still likely to finish the year much higher once the dust settles," Moya said in a note to clients.   The S&P 500 closed on Friday up 1.01% and 4,411.79. The Dow rose 238.20 points to close at 35,061.55, while the Nasdaq added 1.04% to finish at 14,836.99.    Looking ahead, earnings reports from major companies including Apple and Amazon will likely drive the market next week, as well as the Federal Reserve's July policy meeting. Another potential story is the debt ceiling, which Treasury Secretary Janet Yellen is pushing for Congress to raise in early August.  Jesse Pound | CNBC Markets Reporter @jesserpound TOP NEWS  Dow jumps more than 200 points to close above 35,000 for the first time ever Covid cases are rising again in all 50 states across U.S. as delta variant tightens its grip Israel says Pfizer Covid vaccine is just 39% effective as delta spreads, but still prevents severe illness Companies from Chipotle to Whirlpool are raising prices on consumers because of higher costs Another group of U.S.-listed China stocks is plunging as Beijing regulators crack down The rapid growth the U.S. economy has seen is about to hit a wall Trump friend Tom Barrack ordered released on $250 million bond, his SPAC pulls SEC registration, IPO plan Cramer on U.S.-listed China shares: 'You can't own these stocks' Yellen urges Congress to raise or suspend the debt limit by Aug. 2 Cleveland's baseball team is changing name to the Guardians   TOP VIDEO Traders share what they're watching ahead of the busiest week of earnings season   CNBC PRO These companies reporting earnings next week usually beat expectations and see their stocks rise   SPECIAL REPORTS Between stimulus checks and expanded tax credits, here's how much federal money you could get How a Walmart worker with Down syndrome — and her sister — fought and beat the giant retailer after getting fired   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS