U.S. stocks moved higher on Friday as Wall Street tried to shake off a volatile start to the new year.
The S&P 500 rose 1.2%, and the Dow Jones Industrial Average
advanced 319 points, or about 0.9%. The Nasdaq Composite
gained about 1.6%.
Tech stocks were a bright spot for the market on Friday. Chip giant Nvidia climbed 4%, while server maker Super Micro Computer jumped 6%. Tesla rose 4% to lead the consumer discretionary group.
Friday's move came off a choppy trading session on Thursday that saw stocks close lower after a morning rally. The S&P 500 and Nasdaq have fallen for five straight trading sessions, their longest losing streak since April of last year.
The recent weakness for equities means that "Santa Claus" rally, in which stocks gain in the final five trading days of one year and the first two of the next, has failed to materialize. However, many Wall Street strategists and portfolio managers are still optimistic about the market in 2025.
"The secular growth drivers that have been driving earnings growth and market gains over the last two years, I think they're still on strong footing and will continue to drive those earnings gains," Jeremiah Buckley, portfolio manager at Janus Henderson Investors, said on CNBC's "Squawk on the Street."
Stocks are on pace to close out the week with losses even with Friday's gains. The 30-stock Dow and the S&P 500 are lower by around 0.6% and 0.5%, respectively. The Nasdaq Composite has dropped 0.7%.
News out of Washington, D.C., was spurring some individual stock moves on Friday. Shares of U.S. Steel fell 5% after President Joe Biden said he would block the proposed acquisition by Nippon Steel. Booze and beer stocks declined after the U.S. surgeon general issued an advisory on cancer risk related to alcohol consumption.(Cay) Newsmaker23
Source: CNBC
Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&...
The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate...
The S&P 500 rose 0.2% and the Nasdaq gained 0.4% on Friday (July 18), extending gains after both indexes closed at record highs the previous day. Meanwhile, the Dow Jones Industrial Average hovere...
The STOXX 50 gained 0.4% and the STOXX 600 rose 0.3% on Friday, as investors closely monitored corporate earnings and news, while staying on edge for any signs of progress in trade negotiations betwee...
Australian equities notched a record high as Asia-Pacific markets tracked Wall Street gains on the back of strong U.S. economic data reports and a slew of better-than-expected corporate earnings. Aus...
The EUYR/USD finished Friday's session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields. Still, an improvement in Consumer Sentiment capped the...
The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Federal Reserve policy amid signs that tariffs may be starting to increase some inflation pressures and as U.S. President Donald Trump...
Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from...
Unemployment claims fell 7,000 to 221,000 in the week ending July 12, compared with the median estimate of 233,000, according to Labor Department...
The Producer Price Index (PPI) for final demand in the US rose 2.3% annually in June, according to data published by the US Bureau of Labor...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
Asia-Pacific markets fell after U.S. President Donald Trump said Tuesday that he had struck a preliminary trade agreement with Indonesia, which will...