The S&P 500 rose on Friday, with major tech names leading the gains after Alphabet reported strong first-quarter results. The Nasdaq Composite also climbed, while the Dow Jones lagged slightly but still ended higher. Overall, the major averages posted their second positive week out of three, with the S&P 500 gaining 4.6% and the Nasdaq climbing 6.7%. However, the Dow was up only 2.5% for the week.
Stocks have been volatile recently due to uncertainty surrounding President Trump’s tariffs and mixed messaging on trade relations with China. Despite conflicting statements from Trump, Jay Hatfield of InfraCap is optimistic that the worst of the tariff-induced uncertainty is over and believes the market will be more positive than negative moving forward.
Looking ahead, the key driver for markets next week will be earnings reports from big tech companies like Microsoft and Amazon. Despite ongoing trade tensions, investors are hopeful that strong earnings will continue to drive the market higher.
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