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Stocks managed to rise Friday to wrap up a volatile week and a losing month for the major averages.
The Dow Jones Industrials rocketed 601.41 points, or 1.4%, to 43,840.91
The S&P 500 index recovered 92.93 points, or 1.6%, to 5,954.50
The NASDAQ Composite gained 302.86 points, or 1.6%, to 18,847.28.
Friday’s trading session saw a brief pullback after President Donald Trump and Ukraine President Volodymyr Zelenskyy’s clashed in the Oval Office, which raised concerns about heightened geopolitical risks.
Month to date, the NASDAQ has led the way down, sliding around 4.9% in February due largely to a 4.4% drop this week. The technology-heavy NASDAQ is on pace for its worst month since September 2023.
The S&P 500 has declined 1.7% for the week and around 2.2% in February. The broad market index is on track for its worst week since September 2024, and biggest monthly decline since April 2024.
Meanwhile, the Dow has managed to outperform, rising 0.3% during the week. Month to date, however, the 30-stock index has dropped 2.2%.
The major benchmarks turned negative for a short period on Friday after Trump, along with Vice President JD Vance, argued with Zelenskyy during an extraordinary moment in front of the media at the White House.
The leaders met Friday regarding a possible Ukraine mineral rights deal for the U.S., which investors hoped would be a precursor to eventually bringing about an end to the war with Russia.
The latest PCE reading showed that inflation eased slightly in January, according to a report from the Commerce Report. The PCE price index, which is the Federal Reserve’s preferred inflation measure, increased 0.3% for the month and 2.5% on an annual basis.
Investors have been rattled in recent days by President Donald Trump’s promise of tariffs and recent economic reports flashing warning signs. A decline of 8.5% in megacap tech titan Nvidia in Thursday’s session the back of earnings threw more cold water on investor sentiment.
Prices for the 10-year Treasury popped, lowering yields to 4.21%, compared to Thursday’s 4.28%. Treasury prices and yields move in opposite directions.
Oil prices slid 88 cents to $73.16 U.S. a barrel.
Prices for gold faded $31.00 an ounce to $2,864.90 U.S.
Stocks Stage Comeback Following Trump-Zelenskyy Dust-up
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