Big tech stocks drove the S&P 500 higher on Friday, helping it close out a winning week despite market volatility. The S&P 500 rose 0.7% to add to its three-day rally, while the Nasdaq composite jumped 1.3%. Alphabet’s strong earnings report and Nvidia’s chip-making success contributed to the gains.
However, not all stocks performed well. Intel fell 6.7% despite beating expectations, citing uncertainty in the industry due to tariffs. Skechers U.S.A. also pulled its financial forecasts for the year due to global trade policies. The mixed day was a result of President Trump’s ongoing trade war, which has created economic uncertainty.
Analysts warn that this uncertainty could pose an existential threat to smaller businesses, making it difficult for them to adapt to changing conditions. Despite this, stocks have bounced back from recent declines on hopes that Trump may soften his approach on trade.
The S&P 500 closed at 5,525.21, with the Dow Jones Industrial Average rising 20 points and the Nasdaq composite reaching 17,382.94. In bond markets, Treasury yields eased slightly, while the yield on the 10-year Treasury fell to 4.25%.
Source: https://apnews.com/article/market-rates-trump-tariffs-cd30ed61467eee2dc778006fa49924ee