S&P Notches 4th Straight Day of Gains
The S&P 500 rose on Friday, adding to its strong gains for the week, as investors continue to navigate an evolving global trade landscape, while major tech names got a boost.
The Dow Jones Industrials fought their way into the green 20.1 points to 40,113.50
The much-broader index strengthened 40.44 points to 5,525.21.
The NASDAQ Composite jumped 216.9 points, or 1.3%, to 17,382.94.
Alphabet rose more than 1% after the Google-parent and “Magnificent Seven” name reported a beat on the top and the bottom line for the first quarter. Tesla, meanwhile, popped nearly 10%, while fellow “Magnificent Seven” names Nvidia progressed 4% and Meta Platforms advanced 2%.
The major averages are headed for sharp weekly gains. The S&P 500 is up more than 4%, while the NASDAQ has climbed more than 6%. The Dow has underperformed but is still headed for a one-week advance of more than 2%.
Sentiment was hurt a bit Friday after comments from President Donald Trump were published by Time magazine. The president said he would consider it a “total victory” if the U.S. has high tariffs of 20% to 50% on foreign countries a year from now. Trump also denied that rising yields forced his hand in granting a 90-day pause on most of the higher tariff rates.
Prices for the 10-year Treasury gained ground Friday, lowering yields to 4.26% from Thursday’s 4.31%. Treasury prices and yields in opposite directions.
Oil prices gained 43 cents to $63.22 U.S. a barrel.
Prices for gold stumbled $31.30 to $3,317.30 U.S.
