Big Tech stocks carried Wall Street on Friday to the close of a winning, roller coaster week, one that saw markets swing from fear to relief and back to caution because of President Trump's trade war.
- The Dow rose 20.10 points, or 0.1%, to 40,113.50, up 2.5% for the week.
- The S&P 500 rose 40.44 points, or 0.7%, to 5,525.21, up 4.6% for the week.
- The Nasdaq rose 216.90 points, or 1.3%, to 17,382.94, up 6.7% for the week.
The S&P 500 now is back within 10.1% of its record set earlier this year. Spurts for Nvidia and other influential tech stocks sent the Nasdaq composite up. But they masked a mixed day of trading on Wall Street, the AP reports, where more stocks fell within the S&P 500 than rose, and the Dow added only a modest 20 points. Alphabet climbed 1.7% in its first trading after Google's parent company reported late Thursday that its profit soared 50% in the beginning of 2025 from a year earlier, more than analysts expected. Another market heavyweight, Nvidia, was also a major force pushing the S&P 500 index up as the chip company rose 4.3%.
They helped offset a 6.7% drop for Intel, which fell though its results for the beginning of the year also topped expectations. The chip company said it's seeing "elevated uncertainty across the industry" and gave a forecast for upcoming revenue and profit that fell short of analysts' expectations. But it wasn't just Intel. Roughly three out of every five stocks in the S&P 500 sank, including Eastman Chemical, which dropped 6.2% after it gave a forecast for profit this spring that fell short of analysts' expectations. "Business owners scrambling to figure out their supply chains and exposure to tariffs is more than just a distraction," said Brian Jacobsen of Annex Wealth Management. "It could be an existential threat." (More Wall Street stories.)
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