FX.co ★ US Stocks Rise Amid Trade Tensions as Earnings Roll In

U.S. stocks rose on Friday afternoon, extending the week's volatile trends as investors considered rising trade tensions and mixed economic data. The S&P 500 and Nasdaq each increased by over 1.4%, while the Dow surged upwards by more than 400 points. Investor sentiment briefly wavered following the University of Michigan's report which highlighted consumer confidence at its lowest level since 2022, alongside inflation expectations reaching heights not seen since 1981. Trade tensions intensified as President Trump imposed a 145% tariff on Chinese goods, prompting China to retaliate with a 125% increase in tariffs on U.S. imports. In the realm of earnings, major banks presented mixed outcomes; Wells Fargo and Morgan Stanley saw gains, while JPMorgan marked an upward move of over 3% after announcing record revenues. In spite of these fluctuations, the market remains poised for its strongest weekly performance in months, supported by a significant rally midweek.