Wall Street ended a turbulent week with a modest gain on Friday, as investors breathed a sigh of relief over the jobs report, which showed a healthier-than-expected labor market. The S&P 500 rose 0.6%, while the Dow Jones Industrial Average added 222 points, and the Nasdaq composite gained 0.7%.
The week’s wild swings were driven by worries about the US economy and uncertainty surrounding President Donald Trump’s tariffs. However, Federal Reserve Chairman Jerome Powell helped ease market concerns by stating that the economy looks stable and that interest rates may not need to be cut to prop it up.
A highly anticipated jobs report released on Friday morning showed 151,000 new jobs added in February, slightly below economists’ expectations. While some economists warned of potential trouble ahead, others saw the data as a positive sign for the labor market.
The Trump administration’s whiplash-like approach to tariffs has sparked fears among businesses and households. However, President Trump expressed confidence that his policies would bring jobs back to the US, saying “there will always be changes and adjustments.”
In other news, Walgreens Boots Alliance rose 7.5% after being acquired by a private equity firm, while Broadcom climbed 8.6% after delivering stronger-than-expected quarterly results. Meanwhile, Hewlett Packard Enterprises slumped 12% after reporting disappointing profit figures.
The S&P 500 closed at 5,770.20, up 31.68 points from the previous day’s close. The Dow Jones Industrial Average finished at 42,801.72, and the Nasdaq composite ended at 18,196.22.
Source: https://apnews.com/article/stocks-markets-tariffs-rates-jobs-bitcoin-d414257dbb4c9f45b0ad075e12c63451