U.S. stocks ended the session higher on Friday, fueled by strong performances in the Basic Materials, Oil & Gas, and Technology sectors. The Dow Jones Industrial Average rose 1.56%, while the S&P 500 gained 1.81%, and the NASDAQ Composite surged 2.06%, marking a positive day for the broader market.
Source: Reuters
Rising stocks outpaced declining ones on both the New York Stock Exchange (NYSE) and NASDAQ. On the NYSE, advancing stocks outnumbered decliners by a ratio of 2053 to 752, with 47 unchanged. Similarly, the NASDAQ saw 2203 advancers and 1105 decliners, with 121 stocks ending unchanged. The CBOE Volatility Index (VIX), which tracks the implied volatility of S&P 500 options, fell 7.78% to 37.55, signaling reduced market anxiety.
Dow Movers: Apple, JPMorgan Lead Gains as Disney Dips
Apple Inc. (NASDAQ: AAPL) led the Dow, surging 4.06% to 198.15. JPMorgan Chase & Co. (NYSE: JPM) followed closely, gaining 4.00% to 236.20, while NVIDIA Corporation (NASDAQ: NVDA) climbed 2.97%, closing at 110.77. These stocks contributed significantly to the Dow’s gains on the day.
Source: The Wrap
Despite the overall positive sentiment, some Dow stocks underperformed. Walt Disney Company (NYSE: DIS) fell by 0.40% to 84.89, Salesforce Inc. (NYSE: CRM) edged down 0.05% to 254.98, and Nike Inc. (NYSE: NKE) dropped 0.04% to 54.38, contributing minimal losses to the index.
S&P 500: Monolithic Power Soars, Texas Instruments Slumps
Monolithic Power Systems Inc. (NASDAQ: MPWR) led the S&P 500 with a significant 9.99% surge to 533.13. Newmont Goldcorp Corp. (NYSE: NEM) followed with a 7.91% increase to 54.97, and Huntington Ingalls Industries Inc. (NYSE: HII) gained 7.39%, closing at 215.74. These stocks demonstrated impressive gains, driving the index higher.
Source: South China Morning Post
On the downside, Texas Instruments Incorporated (NASDAQ: TXN) saw a sharp decline of 5.75%, closing at 147.60. Aptiv PLC (NYSE: APTV) lost 3.04%, settling at 47.92, while Old Dominion Freight Line Inc. (NASDAQ: ODFL) dropped 2.95%, ending at 152.12
NASDAQ Shockwaves: HCW Biologics Skyrockets 3,600% as Others Crash
In a standout performance, HCW Biologics Inc. (NASDAQ: HCWB) surged by an astonishing 3,646.94%, reaching 9.18. MSP Recovery Inc. (NASDAQ: MSPR) also experienced a notable rally, rising 93.67% to 2.48, and Portage Biotech Inc. (NASDAQ: PRTG) gained 70.44%, closing at 8.59. These stocks dominated the NASDAQ, significantly contributing to its overall gains.
Source: Yahoo Finance
The NASDAQ also witnessed some notable decliners. Innovative Eyewear Inc. (NASDAQ: LUCY) plunged 52.53% to 2.35, XChange TECINC DRC (NASDAQ: XHG) dropped 45.71% to 0.20, and Mullen Automotive Inc. (NASDAQ: MULN) fell 39.44%, closing at 2.18. These stocks marked steep losses in an otherwise strong session.
Gold Up, Oil Rises, Dollar Dips
In commodities, Gold Futures for June delivery rose 2.40%, or 76.16 points, closing at $3,253.66 per troy ounce. Crude oil for May delivery also saw a rise of 2.43%, closing at $61.53 per barrel, while the June Brent oil contract increased by 2.18% to $64.71 per barrel. In currency markets, EUR/USD appreciated by 1.43% to 1.13, while USD/JPY fell by 0.63% to 143.58. The US Dollar Index Futures decreased by 0.96% to 99.64, reflecting weakening of the dollar across various pairs.
Source: Reuters
Trump Says Nobody Is Getting Off the Hook on Tariffs
In a recent post on Sunday, former President Donald Trump emphasized that there would be no exceptions or escapes from the tariffs imposed on Chinese goods. This statement came amid confusion over recent announcements of potential carve-outs for tech devices, such as smartphones and PCs, from the escalating trade war between the U.S. and China. Trump clarified that these products, which were subject to previous tariff exemptions, would now fall under the existing 20% levies related to efforts combating fentanyl trafficking.
The clarification followed updated guidance from U.S. Customs and Border Protection, which had listed several Chinese tech products for tariff exclusions. Trump’s comments contradict earlier reports and reflect ongoing tensions as the U.S. administration reassesses its trade policy concerning China. The administration’s focus now extends to the semiconductor and electronics supply chains, areas Trump has flagged as potential national security concerns.
This development aligns with earlier statements from U.S. Trade Representative Jamieson Greer, who noted that the term “exception” was misleading, as the products will be treated separately under national security investigations. Commerce Secretary Howard Lutnick also indicated that the pause in tariffs on tech products was temporary, with new tariffs likely to be applied to the semiconductor sector in the near future.
CONCLUSION
- U.S. stocks performed strongly on Friday, with major indices closing higher.
- The NASDAQ outperformed other indices, driven by a surge in technology stocks.
- Apple and NVIDIA were among the top performers, contributing significantly to the tech rally.
- Some S&P 500 and Dow stocks faced minor setbacks despite the overall positive trend.
- The commodity market also moved higher, with gold and oil prices rising.
- Investor interest in alternative assets like gold and oil signals growing confidence in market recovery.
- U.S.-China trade tensions remain a key influence on market sentiment.
- Tariff-related developments are shaping investor expectations for future economic policy.
Please note that all information in this newsletter is for illustration and educational purposes only. It does not constitute financial advice or a recommendation to buy or sell any investment products or services.
About the Author
Rein Chua is the co-founder and Head of Training at AlgoMerchant. He has over 15 years of experience in cross-asset trading, portfolio management, and entrepreneurship. Major media outlets like Business Times, Yahoo News, and TechInAsia have featured him. Rein has spoken at financial institutions such as SGX, IDX, and ShareInvestor, sharing insights on the future of investing influenced by Artificial Intelligence and finance. He also founded the InvestPro Channel to educate traders and investors.
Rein Chua
Quant Trader, Investor, Financial Analyst, Vlogger, & Writer.
