US Stocks on Track for Big Weekly Gain
US stocks hovered around the flatline on Friday, with volatility expected during the session as a large batch of options is set to expire. Despite the choppy trading, the three major indexes remain on track to post solid weekly gains. Market sentiment improved following signs of easing trade tensions, as both the US and China agreed to temporarily reduce tariffs. At the same time, a string 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 forecasts, while export and import prices unexpectedly rose. Earlier in the week, inflation figures also missed expectations, and retail sales were soft. Megacap tech stocks were mixed. Apple (+0.2%), Nvidia (+0.6%), and Alphabet (+2.3%) were trading higher, while Microsoft (-0.6%) and Meta (-0.9%) fell. For the week, the Dow Jones is up 2.6%, the S&P 500 has gained 4.5%, and the Nasdaq has surged over 6%.
Source: Trading Economics
