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US Indices End Four-Week Loss Streak
US stocks rose slightly on Friday after President Donald Trump signaled flexibility on tariffs. Wall Street managed to avoid its fifth consecutive week of losses, which had been driven by trade policy turmoil, recession fears, and tech giants' share restructurings.
The Standard & Poor's 500 index rose 0.08%, entering positive territory at the end of trading. The broad market index closed the day at 5,667.56 points.
The Nasdaq Composite index rose 0.52% to close at 17,784.05 points.
The Dow Jones Industrial Average rose 32.03 points, or 0.08%, to close at 41,985.35 points.
The broad-based S&P 500 posted a 0.5% weekly gain, avoiding losses for the fifth consecutive week. The Nasdaq Composite rose 0.2% year-to-date, and the Dow Jones Industrial Average gained 1.2%.
Friday's session was volatile, with the so-called "quadruple witching" period, when stock options, index futures, index options, and stock futures expire. Goldman Sachs estimates that more than $4.7 trillion in notional exposure to options will expire.
The session was volatile, with major averages falling from their lows after President Donald Trump said there would be some "flexibility" on tariffs. However, Trump emphasized that the tariffs implemented by the April 2 deadline would be reciprocal, saying that any country that imposes tariffs on the United States will pay tariffs.
The S&P 500 briefly dipped into correction territory during a period of intense selling since late February and is now about 8% away from its record high, below the 10% correction level. The index has made several attempts to rally this month, but to no avail, including on Wednesday when it rose 1% after the US Federal Reserve said it would likely cut interest rates twice this year.
