FX.co ★ US Stocks Set to Close Week Higher

On Friday, U.S. stocks experienced an uptick following remarks from Federal Reserve Governor Christopher Waller, who indicated that the Federal Open Market Committee (FOMC) might consider reducing interest rates in the upcoming week. This news was welcomed by investors, who continued to navigate prevailing geopolitical uncertainties. As a result, the three major stock indices were firmly in positive territory, recovering from losses incurred earlier in the week. Waller expressed his belief that tariffs are unlikely to significantly contribute to inflation, highlighting evidence of disinflation as a rationale against raising interest rates, a sentiment that buoyed equities across all sectors. Meanwhile, President Trump commented that the decision regarding a potential strike on Iran might take up to two weeks, as there remained a possibility for negotiations. Despite this, Washington continued its assertive stance against Tehran, while Israel proceeded with strikes on Iranian nuclear sites. In the corporate sphere, GMS saw a remarkable 26% surge after QXO and Home Depot entered a bidding competition for the company. Additionally, CarMax's stock jumped 10% following the announcement of strong corporate performance results.