US stocks hovered around the flatline on Friday (05/16), with volatility expected during the session as a large number of options expire. Despite the choppy trading, the three major indexes remained on track to post solid weekly gains.
Market sentiment improved amid signs of easing trade tensions, as the U.S. and China agreed to temporarily ease tariffs. At the same time, a series of mostly weak economic data has reinforced expectations that the Fed has room to cut interest rates at least twice this year.
Housing starts and building permits both came in below estimates, while export and import prices rose unexpectedly. Earlier in the week, inflation figures also missed expectations, and retail sales weakened. Megacap technology stocks were mixed. Apple (+0.2%), Nvidia (+0.6%), and Alphabet (+2.3%) traded higher, while Microsoft (-0.6%) and Meta (-0.9%) fell. For the week, the Dow Jones rose 2.6%, the S&P 500 gained 4.5%, and the Nasdaq jumped more than 6%.
Source: Trading Economics
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