U.S. stock markets experienced a mixed trading session on Friday, with the Dow Jones Industrial Average edging up slightly while the S&P 500 and Nasdaq Composite closed lower. The week saw the Nasdaq and Dow posting marginal gains, contrasting with the S&P’s second consecutive weekly decline.
Amidst this, Federal Reserve officials maintained interest rates steady but revised their inflation forecast upward and economic growth outlook downward due to heightened uncertainty. President Trump’s contemplation of military action against Iran in partnership with Israel added to the geopolitical tension, with Europe failing to persuade Iran to halt its nuclear program.
The markets grappled with the aftermath of Israel’s bombing of Iranian targets, causing oil prices to soar to their highest levels in months. However, optimism emerged as Brent crude prices slid, with hopes that the U.S. could facilitate negotiations between Israel and Iran.
In the tech sector, Apple bucked the trend with a rise in shares, while companies like Tesla, Microsoft, and Broadcom experienced slight declines. Corporate news included Accenture’s stock dropping after missing quarterly booking estimates, whereas Kroger’s stock surged following strong quarterly results.
Meanwhile, stablecoin issuer Circle saw a significant stock surge after the passing of the GENIUS Act, which provided a regulatory framework for stablecoins. Similarly, Mondelez International’s stock rose after receiving an upgrade from Wells Fargo.
Restaurant chain Darden Restaurants hit an all-time high after beating earnings estimates and announcing a stock buyback. On the other hand, Smith & Wesson’s stock plummeted due to declining sales and profit, reflecting cautious consumer spending.
Visa faced challenges after the Senate passed the GENIUS Act, impacting its stock price. Tesla’s market capitalization could potentially double if its robotaxi launch is successful, according to analysts.
CarMax’s stock rose after posting better-than-expected profits, and Kroger led S&P 500 gainers with strong sales growth. Despite positive financial results, Accenture’s stock fell due to missed booking estimates.
Overall, U.S. stock futures showed a positive trend in premarket trading, hinting at potential market improvements moving forward.
📰 Related Articles
- Stock Market Update: S&P 500 Rises, Novo Nordisk Shake-Up
- Stock Market Sees Mixed Day Amid Geopolitical Influences
- Japanese Stock Market Declines Amid Global Market Volatility
- How NASDAQ Reacted Amidst Stock Market Resilience and Economic Uncertainties
- Global Markets React: Indian Stock Market Gains Amid Mixed Sentiments