Stock market today: Dow surges 600 points, S&P 500 has best week since 2023 to cap wild week of tariff-fueled chaos

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  Dow, Nasdaq gain, S&P 500 notches champion week since 2023 to headdress chaotic week connected Wall Street

  Stocks capped chaotic trading week arsenic President Trump's tariff whipsaw sent the large averages connected a chaotic ride.

  The S&P 500 (^GSPC) roseate 1.8%, notching its champion week since 2023. The Nasdaq Composite (^IXIC) roseate 2%, besides rising much than 7% connected the week to station its biggest play summation since 2022, portion the Dow Jones Industrial Average (^DJI) precocious 1.5%, oregon astir 600 points.

  Tech (XLK), Industrials (XLI), and Financials (XLF) were the biggest gainers this week, with AI spot shaper Nvidia (NVDA) starring the "Magnificent Seven" radical higher implicit the five-day period.

  Gold was winning the apical safe-haven spot connected Friday, zooming past a grounds $3,200 per ounce. A enslaved marketplace sell-off escalated Friday with yields connected the 10-year-treasury hitting their highest level since February.

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  Tech, Industrials, Financials connected gait to summation for the week

  Tech (XLK), Industrials (XLI), and Financials (XLF) are connected way to summation for the past 5 sessions arsenic Wall Street wraps a volatile week.

  The Trump tariff argumentation took an unexpected crook connected Wednesday, prompting historical gains connected the large averages aft the president announced a 90-day intermission connected immoderate 75 countries portion expanding levies connected China to 145%.

  On Thursday, stocks fell sharply. But connected Friday afternoon, the large averages were firmly successful the green.

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  Gold reaches caller highs arsenic amid 'shaken' capitalist assurance successful US

  Gold was winning the apical safe-haven spot connected Friday, zooming past a grounds $3,200 per ounce, portion bonds and the dollar slid.

  Gold (GC=F) futures were connected way for their champion 5 days since 2020 to headdress a chaotic week connected Wall Street against the backdrop of an escalating commercialized warfare betwixt China and the US.

  On Friday, China said it volition rise duties connected imports of US goods to 125%. The determination was successful nonstop effect to the Trump medication raising its reciprocal tariffs connected China to 145% this week portion duties connected different countries were paused for 90 days.

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  "The caller highs successful golden are signaling a displacement successful appetite for US assets," said Ryan McIntyre, elder managing spouse astatine plus manager steadfast Sprott. "Confidence successful the US has intelligibly been shaken truthful radical are looking to diversify."

  The absorption successful the long-dated enslaved market, typically seen arsenic a harmless haven, spooked investors this week arsenic Treasurys person been selling off. On Friday, the 10-year output (^TNX) surged to its highest level since February to commercialized astatine astir 4.56%. Bond prices and yields are inversely correlated.

  “Usually, golden would request to consolidate astatine caller lows earlier caller buyers look to instrumentality vantage of little prices … but investors were hopeless to find a harmless haven amongst the marketplace carnage, peculiarly aft the formation into US Treasuries, the accepted ‘flight to quality’ trade, went truthful spectacularly wrong,” said David Morrison, elder marketplace expert astatine Trade Nation.

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  Fed ‘absolutely’ would beryllium acceptable to stabilize marketplace if needed, says Collins

  The Federal Reserve “would perfectly beryllium prepared” to stabilize the marketplace if it were required, Boston Fed president Susan Collins told the Financial Times connected Friday.

  Collins told the paper that “markets are continuing to relation well” and that “we’re not seeing liquidity concerns overall.”

  However, she said that the cardinal slope policymakers “have tools to code concerns astir marketplace functioning oregon liquidity should they arise.”

  “We person had to deploy rather quickly, assorted tools,” said Collins.“We would perfectly beryllium prepared to bash that arsenic needed.”

  Investors person been intimately watching the marketplace arsenic it wraps up a volatile week.

  Yields connected the 10-year Treasury spiked to their highest level since February connected Friday arsenic the dollar sold off, sparking concerns of decreasing request for US assets.

  Read much here.

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  Bond marketplace sell-off 'severe' arsenic semipermanent yields notch biggest week since 1982

  Yahoo Finance's Allie Canal reports:

  The enslaved marketplace sell-off escalated Friday to headdress disconnected 1 of the astir volatile and antithetic trading weeks successful caller representation arsenic President Trump's tariff whipsaw sent yields surging and stocks plummeting.

  Long-term Treasury yields ripped higher, with the 10-year output (^TNX) surging to its highest level since February to commercialized astatine astir 4.53%, a monolithic 66 ground constituent plaything from Monday's debased of 3.87%.

  According to information compiled by Yahoo Finance, the 10-year has logged its biggest week since November 2021.

  Similarly, the 30-year output (^TYX) jumped 7 ground points to commercialized adjacent 4.92% — the highest level since January but the biggest play surge for the 30-year output since 1982.

  Yields and bonds are inversely correlated, meaning higher yields adjacent falling enslaved prices.

  Read much here.

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  Fed's Williams expects Trump tariffs to resistance GDP maturation 'below 1%' and boost ostentation arsenic precocious arsenic 4%

  Yahoo Finance's Jennifer Schonberger reports:

  Read much here.

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  White House claims 'phone ringing disconnected the hook' arsenic countries telephone to onslaught deals with US

  The White House property caput connected Friday said phones are "ringing disconnected the hook" aft the US paused tariffs connected immoderate 75 countries to springiness clip for them to onslaught a woody with the US.

  The assertion follows a commercialized warfare escalation with Beijing arsenic the US accrued tariffs connected China, but paused levies connected different countries, portion keeping a broad 10% broad levy connected them.

  When asked by a newsman wherefore immoderate US allies would enactment to isolate China successful a commercialized war, Press Secretary Karoline Levitt replied, "You'll person to speech to our allies who are reaching retired to us. The telephone are ringing disconnected of the hooks."

  "They request the United States of America. They request our markets, they request our user base," she said.

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  Nvidia connected gait for play outperformance among 'Magnificent 7' stocks

  Nvidia (NVDA) was connected way to beryllium the biggest gainer retired of the "Magnificent Seven" radical pursuing a volatile week connected Wall Street.

  On Friday, the AI chipmaker roseate 2.5%. For the week the megacap was acceptable to summation 17%, acknowledgment to Wednesday's historical rally aft President Trump enactment a tariff intermission connected immoderate 75 countries.

  Amazon (AMZN), Alphabet (GOOG, GOOGL), and Microsoft (MSFT) were besides connected way to extremity the week with gains of astir 7% each.

  Even Apple (AAPL), caught successful the crosshairs of the US-China commercialized war, was connected gait to adjacent retired the week by much than 5% higher.

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  Dow, S&P 500, Nasdaq emergence to league highs

  US stocks turned greenish connected Friday arsenic investors weighed the latest tariff improvement successful the commercialized warfare betwixt the US and China.

  The S&P 500 (^GSPC) roseate 1.3%. The Nasdaq Composite (^IXIC) roseate 1.6%. The Dow Jones Industrial Average (^DJI) precocious 1.2%

  The benchmark 10-year Treasury output (^TNX) pared backmost gains to hover adjacent 4.47% portion the dollar (DX=F) scale tumbled beneath the intelligence 100 threshold.

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  Why strategists are watching the sell-off successful bonds, US dollar similar a hawk

  The emerging taxable from this week's tariff-sparked whiplash connected Wall Street is whether the volatility successful US bonds and the dollar signals waning appetite for US assets and their roles arsenic safe-haven assets.

  The US Dollar Index (DX-Y.NYB), a cardinal measurement of the dollar’s spot against a handbasket of large currencies, fell beneath the 100 level to its weakest constituent since April 2022.

  Meanwhile, the 10-year output (^TNX) surged to its highest level since February to commercialized astatine astir 4.53%, a monolithic 66 ground constituent plaything from Monday's debased of 3.87%. When request for bonds is lower, their yields rise.

  The moves this week were sparked by escalating commercialized tensions betwixt Washington and Beijing, arsenic the US raised tariffs against Chinese goods and China accrued levies connected American imports.

  "Beyond commercialized frictions, there’s a worrying trend: a diminution successful the entreaty of the dollar and U.S. Treasury bonds arsenic safe-haven assets," wrote Quasar Elizundia, probe strategist astatine Pepperstone.

  "Historically, during times of planetary uncertainty, these instruments attracted superior seeking safety. However, existent dynamics suggest a disconnect. Even amid planetary turmoil, the sentiment toward the dollar and Treasuries arsenic harmless havens is turning antagonistic — a motion that thing cardinal whitethorn beryllium shifting."

  Perhaps enforcing that sentiment is the emergence successful golden (GC=F), which surged supra $3,200 connected Friday to deed a caller record.

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  Home betterment spending update: DIY dips arsenic nonrecreational services surge

  The location betterment assemblage is successful flux.

  Data from Bank of America shows that location betterment spending declined 2% twelvemonth implicit twelvemonth successful March, pursuing an 8% driblet successful February, underscoring a downward inclination affecting the industry.

  At the aforesaid time, spending connected housing-related services grew 6% twelvemonth implicit twelvemonth successful March, signaling a displacement successful however consumers are allocating their location betterment dollars. Analysts astatine Bank of America noted consumers moved toward contracting nonrecreational services alternatively than buying materials themselves for do-it-yourself (DIY) projects.

  The study highlights that 6 retired of 10 gathering categories saw year-over-year gains successful March. The strongest performing categories see residential wide contractors, roofing, siding, and HVAC services. Meanwhile, level coverings and factual contractors saw the weakest demand.

  Retailers similar Home Depot (HD) echoed this shift, reporting beardown income successful appliances and powerfulness tools, signaling user involvement successful professional-grade products and services. Still, looming tariffs could propulsion a wrench into the industry.

  While President Trump has reversed immoderate tariff threats, China remains heavy targeted, with Chinese imports facing tariffs of 145%. These elevated duties could importantly rise the outgo of gathering materials and location betterment products, adding much unit successful the months ahead.

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  Tesla banal drops arsenic EV shaper pulls US-made cars from China, adds cheaper Cybertruck trim successful US

  Yahoo Finance's Pras Subramanian reports:

  Read much here.

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  BlackRock CEO says US system 'very close' to, 'if not in,' a recession

  BlackRock CEO Larry Fink told CNBC connected Friday that the US system could already beryllium successful a recession.

  “I deliberation we’re precise adjacent [to], if not in, a recession now,” Fink told “Squawk connected the Street.”

  The Trump administration's tariff argumentation has sparked fears of a recession. Trump's 90-day intermission connected immoderate 75 countries announced earlier this week eased immoderate of those concerns, but the escalating commercialized warfare betwixt China and the US has not.

  “I deliberation you’re going to see, crossed the board, conscionable a slowdown until there’s much certainty. And we present person a 90-day intermission connected the reciprocal tariffs — that means longer, much elevated uncertainty,” Fink said.

• Fed's Collins expects to clasp rates for 'longer'

  Another Federal Reserve authoritative poured acold h2o connected the conception of near-term complaint cuts owed to concerns astir the inflationary effects of caller tariffs.

  Yahoo Finance's Jennifer Schonberger reports:

  Read much here.

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  Bond yields surge (again)

  Long-term Treasury yields ripped higher connected Friday, capping disconnected 1 of the astir volatile weeks successful the enslaved marketplace successful caller memory.

  By mid-morning trade, the 10-year output (^TNX) surged to its highest level since February to commercialized astatine astir 4.53%, a monolithic 66 ground constituent plaything from Monday's debased of 3.87%.

  It's been the biggest week for the 10-year since November 2021.

  Similarly, the 30-year output (^TYX) jumped different 8 ground points to commercialized adjacent 4.93% — besides up of Wednesday's highs.

  It's been the biggest week for the 30-year output since ... get acceptable for this ... June 1982.

  Read much astir this week's enslaved marketplace moves here.

• Trump medication requested a telephone from China up of latest retaliation

  Stocks flipped into the greenish aft CNN reported that the Trump medication privately reached retired to Chinese officials up of China's latest retaliation that raised the country's tariff complaint connected US imports to 125%.

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  However, China appeared to rebuff that outreach arsenic the US's planetary commercialized provocations person narrowed to chiefly absorption connected the US-China commercialized war.

  From CNN:

  Read much here.

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  Consumer sentiment sinks further arsenic ostentation expectations deed highest level since 1981

  Consumer sentiment tumbled further successful April arsenic the impacts of President Trump's tariff policies were apical of mind.

  The latest University of Michigan user sentiment survey released Friday showed sentiment deed its lowest level since June 2022. The scale slid to a speechmaking of 50.8, beneath the 57 seen past period and the 53.8 expected by economists.

  Pessimism implicit the ostentation outlook soared again successful April arsenic one-year ostentation expectations jumped to 6.7% from 4.9% the period prior. This marked the highest one-year ostentation expectations since 1981. Just 3 months ago, consumers had lone expected ostentation of 3.3% implicit the adjacent year.

  Long-run ostentation expectations, which way expectations implicit the adjacent 5 to 10 years, climbed too, hitting 4.4% successful April, up from 4.1% successful March.

• Why Wall Street's biggest carnivore isn't budging connected his calls aft Trump tariff pause

  The lone carnivore connected Wall Street coming into 2025 is sticking to his bearish telephone arsenic tariff uncertainty continues to unsettle markets.

  Yahoo Finance's Brian Sozzi reports:

  Read much here.

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  Stocks autumn arsenic China signals it volition 'ignore' US escalation successful commercialized war

  US stocks dropped astatine the unfastened connected Friday aft China raised its retaliatory tariffs connected US goods, but hinted it won't respond to immoderate further escalation from the US.

  The S&P 500 (^GSPC) fell 0.4%, and the tech-heavy Nasdaq Composite (^IXIC) moved down 0.4%. The Dow Jones Industrial Average (^DJI) was 0.5% lower.

  China announced it volition summation duties connected US imports to 125%, but volition "ignore" immoderate further retaliatory hikes from Washington. On Thursday the White House clarified tariffs connected Chinese goods basal astatine 145%. Earlier this week, President Trump paused tariffs connected immoderate 75 countries for 90 days.

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• Oil connected way for 2nd consecutive play loss

  Oil prices roseate somewhat connected Friday but are connected way for their 2nd play nonaccomplishment successful a enactment amid a commercialized warfare and expectations of much output from OPEC+.

  Futures for West Texas Intermediate (CL=F) and Brent (BZ=F), the planetary benchmark, roseate implicit 0.1%. WTI is trading astatine the captious $60 per tube level, portion Brent declined to $63 per barrel.

  Reuters reports:

  Read much here.