Big Tech carries Wall Street to the close of its winning, roller-coaster week

Big Tech stocks carried Wall Street Friday to the close of a winning roller-coaster week one that saw markets swing from fear to relief and back to caution because of President Donald Trump s contract war The S P rose to add chosen more to a big three-day rally and it s back within of its record set earlier this year Spurts for Nvidia and other influential tech stocks sent the Nasdaq composite up a market-leading But they masked a mixed day of trading on Wall Street where more stocks fell within the S P than rose and the Dow Jones Industrial Average added only a modest points or Alphabet climbed in its first trading after Google s parent company published late Thursday that its profit soared in the beginning of from a year earlier more than analysts expected Alphabet is one of the biggest companies on Wall Street in terms of size and that gives its stock s movements extra influence on the S P and other indexes Another territory heavyweight Nvidia was also a major force pushing the S P index upward after the chip company rose They helped offset a drop for Intel which fell even though its results for the beginning of the year also topped expectations The chip company declared it s seeing elevated uncertainty across the industry and gave a forecast for upcoming revenue and profit that fell short of analysts expectations It wasn t just Intel Roughly three out of every five stocks in the S P sank including Eastman Chemical which dropped after it gave a forecast for profit this spring that fell short of analysts expectations CEO Mark Costa announced that the macroeconomic uncertainty that defined the last several years has only increased and that future demand for its products is unclear given the magnitude and scope of tariffs Skechers U S A the shoe and apparel company pulled its financial forecasts for the year due to macroeconomic uncertainty stemming from global business policies even though it just communicated a record quarter of revenue at billion Its stock fell Companies across industries have increasingly been saying the uncertainty created by Trump s tariffs is making it arduous to give financial forecasts for the upcoming year Stocks bounced back from a steep slide on Monday on hopes that Trump may be softening his approach on deal and his criticism of the Federal Reserve which had earlier shaken markets The hope is that if Trump rolls back various of his stiff tariffs he could avert a recession that numerous investors see as otherwise likely because of his transaction war But Trump s on-again-off-again tariffs may nevertheless be pushing households and businesses to alter their spending and freeze plans for long-term outlay because of how hastily conditions can change sometimes seemingly by the hour Business owners scrambling to figure out their supply chains and exposure to tariffs is more than just a distraction according to Brian Jacobsen chief economist at Annex Wealth Management It could be an existential threat especially for smaller businesses that don t have the scale or tools to have the same supply chain flexibility as larger firms All described the S P rose points to The Dow Jones Industrial Average added to and the Nasdaq composite jumped to In stock markets abroad indexes rose modestly across much of Europe following more mixed movements in Asia Tokyo s Nikkei jumped but stocks in Shanghai slipped In the bond field Treasury yields eased particular more and the yield on the -year Treasury fell to from late Thursday It s been generally falling since approaching earlier this month in a surprising rise that suggested investors worldwide may have been losing faith in the U S bond region s reputation as a safe place to park cash Yields have dropped as several reports on the U S business activity have come in weaker than expected bolstering expectations that the Federal Reserve may cut interest rates later this year to backing expansion A statement on Friday morning announced sentiment among U S consumers sank in April though not by as much as economists expected The survey from the University of Michigan stated its measure of expectations for coming conditions has dropped since January for the steepest three-month percentage decline seen since the recession The value of the U S dollar meanwhile held steady against the euro and other rival currencies It s been recovering selected of its sharp unexpected losses from earlier this month that had rattled investors