US Stocks Hold Week's Rally
US stocks traded with small movements on Friday, holding the gains from the week as markets assessed the latest earnings reports and the signals of policy changes from US President Trump. The S&P 500 was flat to hold above near record highs, while the Nasdaq inched higher and the Dow lost less than 50 points lower, but the three averages gained 2% on the week.
The US President noted that his administration would rather not impose levies on China, limiting risks of higher input inflation for US manufacturers.
The President also held back from imposing restrictions on the EU, but reiterated the earlier warning of tariffs on Mexico and Canada. In the meantime, American Express inched higher after posting record-setting revenue for the financial year.
Also, Verizon jumped over 3% after its earnings topped expectations, while investors assessed potential returns on soaring 5G investments. On the data front, markets awaited S&P PMI values for the first national-level indicators for January.
Source: Trading Economics
