US Stocks Poised for Weekly Advance
Stocks in the US were in the green on Friday, with contracts on the three major averages up about 0.3%, as traders weighed President Trump’s latest tariffs, corporate earnings, and developments at the Federal Reserve.
News showed the US administration will apply tariffs on gold bars, reversing industry expectations that they would be exempted. President Trump also nominated Stephen Miran, chair of the Council of Economic Advisors, to replace Adriana Kugler on the Fed’s Board of Governors.
All sectors booked gains but health outperformed. On the corporate front, Intel gained 0.4% after its CEO said he has the board’s backing, following Trump’s call for his resignation. Gilead Sciences jumped 8.6% on strong earnings, and Tesla was up 1.3% despite disbanding its Dojo team.
For the week, the S&P 500 is up 1.6% - its biggest weekly gain in five, the Dow Jones added 0.9%, and the Nasdaq soared 2.9%.
Source: Trading Economics