NEW YORK (AP) — US stocks gathered on the best day in Friday months as Wall Street roller coasters suddenly returned to their upside. That wasn’t enough to keep the US market up from its fourth consecutive week of loss, the longest winning streak since August.
The S&P 500 jumped 2.1% per day, 10% below its first “corrected” record since 2023. The last time the Index shot was the day after President Donald Trump’s election, the day after Wall Street returned to Trump’s White House.
The Dow Jones industrial average rose to 674 points (1.7%), while Nasdaq composites increased by 2.6%.
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According to Yung-Yu Ma, Chief Investment Officer at BMO Wealth Management, there is a possibility that a “relief rally could come” over several days that was built very negatively among investors. The shaking in sentiment has not been a one-way, one-sided tilt forever in one direction, and the US stock market has been falling rapidly since setting a record a month ago.
One of the uncertainties hanging on Wall Street could be dismissed after the Senate moved to prevent a possible partial US government shutdown.
Past shutdowns have not been a big deal for financial markets. However, the reduction in uncertainty is useful when many of them are sending the US stock market with big, scary fluctuations from hours to hours, not just daily.
Certainly, the heaviest uncertainty remains in Trump’s escalating trade war. So the question is how painful it is for Trump to endure the economy through tariffs and other policies to rebuild the country and the world as he wishes. The president says he wants manufacturing jobs in the US along with the US government’s workforce and other fundamental changes.
The heaviest uncertainty remains in Trump’s escalating trade war.
Stock prices may be nearing completion of the reset considering the tariffs set to hit in April, but Massachusetts has raised concerns about a major cut to the economy “is likely to stay for a while.”
US households and businesses have already reported a decline in confidence due to all the uncertainty created by the Trump barrage of barrages. It sparked fear of spending pullbacks that could potentially take energy from the economy.
A preliminary survey released Friday by the University of Michigan shows concerns appear to only worsen among US households. The measure of consumer sentiment has been sunk for the third consecutive month, mainly due to concerns about the future, rather than complaints about the present. The job market and the economy as a whole look relatively solid at this point.
“Many consumers cited a high level of uncertainty about policy and other economic factors,” Joanne HSU said in a direct survey, saying, “The frequent turnover of economic policies makes future planning very difficult for consumers, regardless of their policy preferences.”
This kind of fear focuses on whether Wall Street sees the sour mood of businesses translating into the real pain of their business.
Ulta Beauty has risen 13.7% after beauty product retailers reported higher profits in the recent quarter than analysts expected.
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The company’s forecast for future revenue and profits failed to meet the analysts’ goals, but Chief Financial Officer Paula Oyibo said he wanted to be cautious “as we navigate the ongoing consumer uncertainty.” Analysts said the predictions looked better than feared.
Large tech stocks and corporate profits in the artificial intelligence industry have also helped support the market. Such stocks are under the most pressure from recent sales after critics said the price was too high in the frenzy around AI.
Nvidia rose 5.3% to trim its 2025 losses to under 10%. Apple rose 1.8% to reduce losses that week. This could at one point be the worst since 2020 Covid Crash.
The S&P 500 rose to 5,638.94 117.42 points. The Dow Jones industrial average rose from 674.62 to 41,488.19, while the Nasdaq composites went from 451.07 to 17,754.09.
In overseas stock markets, indexes rose in most parts of Europe and Asia.
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Stocks jumped 2.1% in Hong Kong and 1.8% in Shanghai after China’s National Financial Regulation Authority issued a notice ordering financial institutions to encourage consumers to develop finances and use credit cards.
Economists say China needs to spend more on pushing the economy out of its downturn, but most are advocating for broader and more fundamental reforms.
In the bond market, the Treasury will rise, recovering some of its recent sharp losses. The 2010 Treasury yield rose to 4.31% from 4.27% in the second half of Thursday, up from 4.16% at the start of last week.
Yields have been shaking since January, when the 10-year yield was approaching 4.80%. Yet yields fell as concerns grew worse about the strength of the US economy. Yields rose when those concerns decreased or concerns about rising inflation decreased.
AP business writers Matt Ott and Elaine Kurtenbach contributed.
