Dow gains 619 points amidst historic Wall Street volatility, influenced by trade tensions and optimism over US-China negotiations.
In Short
Stocks rose on Friday, with the S&P 500 up 1.81% and a weekly gain of 5.7%, despite volatility caused by trade policy uncertainties.
Comments from the White House on potential trade discussions with China boosted afternoon trading, though tariffs remain high.
Stocks rose on Friday, concluding a notably turbulent week for Wall Street.
The S&P 500 increased by 1.81% to close at 5,363.36, while the Dow Jones Industrial Average gained 619.05 points, or 1.56%, finishing at 40,212.71. The Nasdaq Composite climbed 2.06% to settle at 16,724.46.
The market saw an uptick in trading during the afternoon following optimistic comments from the White House regarding potential trade discussions with China.
This week presented extreme volatility, beginning with a significant drop on Thursday. Traders reacted to ongoing uncertainties surrounding trade policy, leading to losses in major indices after President Trump announced a 90-day delay on certain tariffs. The S&P 500 fell 3.46%, the Dow dropped 1,014.79 points, and the Nasdaq decreased by 4.31% on Thursday. Conversely, Wednesday saw an astonishing rise, with the S&P 500 increasing by 9.52%.
The CBOE Volatility Index reached above 50 earlier in the week before settling around 37 on Friday.
Current U.S. tariffs include a 145% duty on Chinese goods and varying rates on imports from other nations. China’s response involved raising its tariffs on U.S. products to 125%.
Despite the recent market fluctuations, the S&P 500 posted a weekly gain of 5.7%, marking its best week since November. However, averages remain down since early April. Consumer sentiment and inflation expectations also showed concerning trends.
