Reported 5 months ago
US stocks rebounded on Friday, with the S&P 500 rising 0.7% and the Nasdaq Composite gaining 1.1% to end a volatile week that saw the Dow Jones Industrial Average eke out a victory after its worst day in over a year. Tech stocks led the market higher, with Nvidia's upcoming stock split fueling retail interest. Meanwhile, the White House emphasized the importance of Federal Reserve independence, and Sonos CEO Patrick Spence discussed the negative impact of tariffs. The University of Michigan's consumer sentiment index for May fell to 69.1, marking its lowest level in five months due to inflation and interest rate concerns. CEO compensation has also surged, with companies like Tesla and Amazon splitting their stocks to signal optimism. Paramount secured a multi-year distribution deal with Charter Communications, and Google faced criticism over its AI Overview feature but stated it will not roll it back. Traders are more divided on whether the Fed will cut rates in September, with geopolitical turmoil and inflation cited as key market risks. JPMorgan's investor survey revealed a bullish outlook on stocks, with expectations of a rate cut and uncertainty regarding the US presidential elections.
Source: YAHOO