U.S. stocks fluctuated on Friday, ending a volatile but strong May as investors weighed fresh trade tensions with China and cooling inflation data. The S&P 500 ended nearly flat after falling more than 1% intraday, while the Nasdaq fell 0.4% and the Dow rose 107 points.
The market swings were triggered after President Trump accused China of violating their latest trade deal, with reports further pressuring that the administration plans to expand technology restrictions targeting Chinese companies. Trade talks appeared to have stalled, and legal uncertainty surrounding Trump's tariff strategy added to investor jitters.
Meanwhile, the Fed's preferred inflation gauge showed cooling price pressures, offering some relief. On the earnings front, Costco (+4.1%) and Ulta Beauty (+11.5%) rose on strong results, but Gap plunged nearly 20% after weak sales guidance. The S&P 500 closed May up more than 5%, while the Nasdaq is eyeing a gain of nearly 10%—its best month since November 2023. The Dow is up about 3% this month. (alg)
Source: Trading Economics
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