US stocks staged a rebound to close mostly higher on Friday, despite concerns over an economy in contraction and ongoing trade tensions. The Dow Jones Industrial Average rose 0.4%, while the S&P 500 increased by 0.2%. The Nasdaq Composite closed just 0.1% lower.
The day’s opening was marked by a Commerce Department report showing the first quarter GDP growth shrinking, with imports outpacing expected tariffs. This contraction follows three years of steady growth. Additionally, private-sector hiring fell short of expectations in April, with ADP reporting 62,000 jobs created instead of double that.
Despite these economic indicators, investors found solace in corporate earnings reports. Caterpillar Inc. shares rose fractionally after missing sales and profit targets, while Trane Technologies surged 8.4% on higher revenues. Wingstop Inc.’s stock jumped 14.5% following an earnings beat. Yum Brands also saw its revenue and earnings increase, closing 1.8% higher.
However, not all stocks fared well. Bausch + Lomb’s shares plummeted nearly 16% after missing earnings expectations. Investors are now awaiting big tech earnings reports from companies like Microsoft and Meta, which will provide further insight into the market’s trajectory.
Source: https://eu.usatoday.com/story/money/markets/2025/04/30/stocks-trade-deal-tariffs/83358884007