NEW YORK (AP) – Wall Street rose on Friday, but after taking care via another wild day. That was a fitting ending A brutal week of Scary swing Dominated by concerns about the US economy Uncertainty about what President Donald Trump I'll do it with Customs.
The S&P 500 rose 0.6% after raiding from previous losses that reached 1.3%. That was off Punishing stretch It swung up and down by more than 1% for six consecutive days.
Dow Jones' industrial average added 222 points (0.5%), while Nasdaq's composites rose 0.7%. The Wild Week, this was the worst for the S&P 500 Since Septemberindex is below 6% The best high set ever last month.
The head of Federal Reserve System Helping ease market worries after Friday afternoon, saying he thought the economy was stable now, He doesn't feel pressure to cut interest rates To support it.
Traders have been building bets in recent weeks, but the Fed must cut its main rate at least three times this year after a weaker stream of reporting about the economy. But Jerome Powell pushed back speculation that he and other Fed officials could feel pressured to act immediately.
“The cost of being cautious is very, very low,” Powell said of stabilizing interest rates. “The economy is doing well. There's really no need to do anything. You can and you have to wait.”
A highly anticipated work report released on Friday morning may have given him some room to do just that. The US Labor Bureau said Employer added Last month, 151,000 jobs were cut. It was slightly below economists' expectations, but it was an acceleration from January employment.
Recently I've been disappointed As Trump's uncertainty had shown sour confidence in American businesses and households due to uncertainty about tariffs, economists were checking whether Friday's report would be transformed into real pain in the economy and job markets.
“To sum it up, print today wasn't as bad as feared,” says Lindsay Rosner, head of multi-sector bond investments at Goldman Sachs Asset Management.
However, some economists also warned about job data containing job data regarding details beneath the surface that could imply future troubles. For example, the number of part-time workers who want to be full-time between January and February has risen since, for example, January.
“The market may sigh from the relief that the labor market still looks healthy, but deeper dives indicate that spring could be a more challenging season.”
Whiplash behavior from the White House Customs – The beginning Place them About trading partners I'll exempt some after that I'm doing it again – Increased uncertainty For businesses.
It sparked fears that companies might freeze in response to what they described as “chaos,” and pulled recruitment back. Meanwhile, US households are paying higher inflation due to tariffs. weakens their confidence And it's possible Keep their spending down. It will suck more energy economy.
Trump said Friday that he hopes tariffs will bring back jobs to the US, and that he will not give more indications that more certainty is imminent for financial markets. “There's always changes and adjustments,” he said in a comment from the oval office.
“There could be some hindrances,” Trump said of the economic impact before saying, “I've settled that a bit.” Give me a month Tariffs on Mexican and Canadian imports for automakers.
In the bond market, the Treasury first declined after the employment report, but Powell's comments have prompted traders to return their forecasts for four or more cuts this year to Ratchet.
Treasury yields fell 4.22% lower before rising to 4.30%, up from 4.28% in the second half of Thursday. It has generally sunk since January, when January was approaching 4.80% as investors are increasing expectations for US economic growth.
On Wall Street, the Walgreens Boots Alliance rose 7.5% after pharmacies and drugstore chains agreed Acquired by private equity company Sycamore Partners. The acquisition will make the struggling chain private for the first time since 1927, giving you more flexibility to make changes to improve your business without worrying about Wall Street's reaction.
Broadcom rose 8.6% more than analysts expected after delivering stronger profits and revenues in the recent quarter. The tipping company also provided forecasts of future revenues that have surpassed analyst expectations. artificial intelligence Provided.
They helped offset the Hewlett Packard Enterprise. This thwarted 12% after reporting profits for the most recent quarter that fell below analysts' expectations.
Costco sank 6.1% after retailers reported profits in the most recent quarter were weaker than expected.
The S&P 500 rose 31.68 points to 5,770.20. The Dow Jones industrial average was added from 222.64 to 42,801.72, while the NASDAQ composites went from 126.97 to 18,196.22.
In the overseas stock markets, German stocks lost 1.8%, returning some profits from the beginning of the week caused by earthquake changes in debt policies. Traditionally, the German government seems willing to allow it Much more borrowed.
The index was also categorized into most other regions in Europe and Asia.
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AP business writers Matt Ott and Elaine Kurtenbach contributed.
