US Stocks Rise
US stocks rose on Friday, with the S&P 500 up 0.9%, the Nasdaq up 1.5% and the Dow Jones up nearly 150 points, as traders looked to recover from a weak week that pushed the S&P and Nasdaq into correction territory. Sentiment improved amid signs lawmakers in Washington will succeed in averting a government shutdown. Meanwhile, investors remain focused on escalating trade tensions under President Trump and their potential impact on the US economy.
So far, inflation pressures have not shown up in the CPI or PPI. However, Michigan consumer sentiment has slumped this month and inflation expectations have soared. Technology has been the best-performing sector so far while consumer staples have underperformed. Nvidia, Broadcom and Tesla are up about 3%. For the week, the S&P 500 is down 4.3%, heading for its worst performance since March 2023, while the Dow Jones has dropped 4.6%, its sharpest weekly decline since June 2022. The Nasdaq is also expected to see a sharp decline of 4.9%.
Source: Trading Economics
