Major United States benchmark averages posted modest gains on Friday, ending a four-week losing streak driven by trade policy uncertainty, recession fears, and a downturn in major technology stocks.
The Dow Jones Industrial Average edged up 32 points or 0.1% to 41,985.4, the S&P 500 gained 4.7 points or 0.1% to close at 5,667.6, and the Nasdaq Composite rose 0.5% to settle at 17,784.1.
For the week, the S&P 500 advanced 0.5%, avoiding a fifth consecutive week of losses. The Nasdaq posted a 0.2% weekly gain, while the Dow outperformed with a 1.2% rise.
Markets were volatile throughout the session but rebounded after President Donald Trump signalled “flexibility” on tariffs. However, he reaffirmed that tariffs set for the April 2 deadline would be reciprocal, stating that countries imposing tariffs on U.S. goods would face similar charges.
Investor sentiment was dampened by disappointing corporate updates. FedEx tumbled 6.5% after the company lowered its earnings outlook, citing “weakness and uncertainty in the U.S. industrial economy”.
Meanwhile, Nike shares fell 5.5%, as the company warned that quarterly sales would miss expectations due to tariffs and declining consumer confidence.
Looking ahead, investors will focus on U.S. GDP growth and the Federal Reserve’s preferred inflation gauge - the core personal consumption expenditures price index - for further economic signals.
In the bond market, 10-year Treasury yields rose 0.2% to 4.25%, while 2-year yields declined 0.3% to 3.954%.
