Wall Street Stocks Rise, Maintain Upward Momentum/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ U.S. stocks rose Friday, with the S&P 500 nearing a record high and tracking its third weekly gain in four weeks. Technology shares led the advance, while strong earnings from companies like Gilead Sciences and Expedia boosted market sentiment. Investors remain focused on Trump’s escalating trade war and the Federal Reserve’s interest rate outlook.
Wall Street Stocks Rally: Quick Looks
- S&P 500 up 0.7%, just below record high
- Dow Jones gains 212 points; Nasdaq hits fresh all-time high
- Tech giants like Nvidia and Microsoft lift market
- Gilead Sciences surges 8.8% on strong earnings and raised forecast
- Expedia jumps 4.4% after upbeat financial results
- Tariffs under Trump weigh on corporate outlooks
- Fed Chair Powell under pressure to cut rates
- Stephen Miran nomination could tilt Fed toward easing
- Treasury yields rise slightly; 10-year at 4.28%
- Next week brings key inflation and retail sales data
Wall Street Stocks Rise, Maintain Upward Momentum
Deep Look
NEW YORK — Wall Street ended the week on an upbeat note Friday, with stocks climbing across major indexes and keeping the market on course for its third weekly gain in four weeks.
The S&P 500 rose 0.7%, sitting just below its all-time high, while the Dow Jones Industrial Average added 212 points (0.5%). The Nasdaq Composite gained 0.8%, extending Thursday’s record close.
Tech Leads the Charge
Technology companies — which hold some of the market’s largest valuations — provided much of the upward momentum. Nvidia gained 0.9%, and Microsoft edged up 0.2%, helping to push indexes higher.
Gilead Sciences posted one of the day’s standout performances, soaring 8.8% after reporting quarterly results that beat Wall Street expectations and raising its full-year earnings forecast. Expedia Group also impressed, climbing 4.4% following strong earnings.
These earnings reports come from the final wave of S&P 500 companies releasing second-quarter results, which have generally been robust despite warnings that Trump’s new tariffs could pressure future profits.
Trade War and Fed Policy in Focus
The market’s broader attention remains fixed on President Donald Trump’s trade agenda and its impact on economic growth. On Thursday, Trump began imposing higher import taxes on dozens of countries — an unpredictable policy shift that has kept the Federal Reserve cautious.
Fed Chair Jerome Powell has so far resisted Trump’s repeated calls to cut interest rates. But with Trump’s nomination of Stephen Miran to the Fed’s Board of Governors — a staunch advocate for rate cuts — analysts see the potential for a policy tilt toward easing.
At the Fed’s last meeting, policymakers voted to hold the benchmark rate at 4.3%, though two members favored an immediate cut. Investors now overwhelmingly expect the Fed to lower rates by 0.25% in September.
Treasury Yields Edge Higher
Bond markets reflected the shifting rate outlook, with the 10-year Treasury yield rising to 4.28% from 4.25% and the two-year yield climbing to 3.76% from 3.73%.
The rate cut expectations stem from economic signals showing softening conditions — including a weaker July jobs report and an uptick in inflation in June.
Inflation, Employment, and the Fed’s Balancing Act
The Fed is navigating a dual mandate: cooling inflation to its 2% target while sustaining full employment. Lower rates could boost the economy and asset prices, but they also risk re-igniting inflation — a trade-off the central bank will weigh carefully in the coming weeks.
Next week’s government reports on consumer and wholesale inflation, as well as retail sales, will be closely watched for clues about the economy’s direction.
“We believe stocks will stay supported amid solid fundamentals, but fresh headlines in the coming week may challenge investor sentiment that remains vulnerable to tariff, economic, and geopolitical risks,” said Ulrike Hoffmann-Burchardi, chief investment officer for the Americas at UBS Global Wealth Management.
Global Market Moves
Overseas, Asian markets closed mostly lower except in Tokyo, where the Nikkei surged 1.9% after Japan’s trade envoy announced a deal with the U.S. to resolve a tariff dispute. European markets were mixed, reflecting the same uncertainty that has kept global investors cautious.
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