U.S. stocks climbed on Friday, lifted by gains in technology-related shares, helping major indexes notch weekly gains. The dollar also edged up against the euro and yen. Alphabet, the parent company of Google, rose following a better-than-expected profit report for the quarter, contributing to the gains in tech stocks.
The Nasdaq Composite Index ended the session up more than 1%. A line chart showing the performance of the S&P 500 Index since April 2025 indicated a volatile period ending down 5% as of April 24, 2025. A similar chart tracking the US yield curve showed ongoing fluctuations in the metric over time.
A late-day wave of dip buying erased losses in stocks, with Wall Street investors awaiting a slew of corporate earnings and economic data for insights on the impacts of President Donald Trump’s tariff war. As the S&P 500 closed higher for five consecutive sessions, the American equity benchmark posted its longest winning streak since November. Monday marked the fifth time in the past month the index fully wiped out an intraday gain or drop of 1% or more.
The number of reversals already matches the total seen in the entire year of 2024. Boeing Co. and International Business Machines Corp.
led gains in blue chips. Nvidia Corp. sank on news Huawei Technologies Co.
tech stocks drive market gains
is set to test a new AI chip. Megacaps Microsoft Corp., Apple Inc., Meta Platforms Inc., and Amazon.com Inc.
will report results in the coming days. Treasuries rose, and the dollar fell. From jobs to inflation and economic growth, traders will have a lot to digest this week.
A measure of Texas manufacturing activity weakened significantly, and executives used words like “chaos” and “insanity” to describe the tariff turmoil, according to a report by the Federal Reserve Bank of Dallas. Asia-Pacific markets traded mixed on Tuesday, tracking Wall Street after the Trump administration indicated plans to soften its tariff stance. Investors also assessed a variety of company earnings reports.
Notably, Europe’s largest lender, HSBC, exceeded market expectations in the first quarter due to robust performance in its wealth business and strength in its corporate and institutional banking segments. Market watchers closely monitored developments concerning trade deal negotiations between the U.S. and countries in the region. Mainland China’s Shanghai Composite Index fell 0.17% to end the day at 3,775.08, while Hong Kong’s Hang Seng Index edged up 0.16% to 22,008.11.
India’s Nifty 50 traded flat, while the broader BSE Sensex increased by 0.17% as of 2.51 p.m. Indian Standard Time. In South Korea, the KOSPI Index rose by 0.65% to finish at 2,565.42, and the small-cap Kosdaq surged 0.98% to 726.46. Australia’s S&P/ASX 200 advanced 0.92% to close at 8,070.60.
Japanese markets were closed for a public holiday.
Image Credits: Photo by Austin Distel on Unsplash
