The S&P 500 rose on Friday, regaining some ground as the benchmark headed for its worst week since September as a series of trade policy moves unsettled investors.

The broad index rose 0.4%, while the Nasdaq Composite gained 0.6%. The Dow Jones Industrial Average traded nearly flat.

A weaker-than-expected jobs report released Friday raised further concerns about a weakening economy and lower interest rates. Nonfarm payrolls increased by 151,000 jobs in February, short of the consensus estimate for 170,000 from economists surveyed by Dow Jones. The unemployment rate edged up to 4.1%.

That came as stocks have been on a roller coaster this week with President Donald Trump's tariff policies worrying investors about future U.S. growth and inflation. Trump said Thursday that some Canadian and Mexican goods covered by the North American trade agreement known as the USMCA would be exempt from the announced tariffs through April 2.

The move effectively reverses much of the original plan. Still, markets have been selling off this week, with uncertainty rising amid constant updates and a lack of clarity about what to expect in the long term.

"The stock market is moving along with the tariff headlines, and that will likely keep volatility high for the foreseeable future, as markets don't like uncertainty," said Glen Smith, chief investment officer at GDS Wealth Management. "While we expect markets to find their footing and recover from the tariff-driven selloff, investors should expect continued volatility until this uncertainty clears."

The market rout put the three major averages on track for their worst week since September 2024. The S&P 500 is down 3.5% this week, while the 30-stock Dow is down 3%. The Nasdaq has fallen 3.8% this week and fallen into correction territory, meaning it closed 10% below its all-time high.

Treasury Secretary Scott Bessent acknowledged to CNBC on Friday that the economy may be starting to "slow down a little bit." But Bessent said that was because of a transition from the previous administration's policies. Bessent said any tariffs would be "a one-time price adjustment" and not a sustained inflationary driver.

"This week confirms that tariffs remain an uncertain factor for market confidence," said Mark Malek, chief investment officer at Siebert Financial. "Traders are getting tired of the back and forth."

The market gained momentum Friday from Broadcom's more than 6% rally on strong earnings. Nvidia, another artificial intelligence giant, also rose during the session. (Newsmaker23)

Source: CNBC