Stocks were sharply higher in early trading Friday, one day after the S&P 500 tumbled into correction for the first time since 2023 amid investor concerns about the impact of tariffs and and the outlook for the U.S. economy.
The S&P 500 and tech-heavy Nasdaq Composite were up 1.1% and 1.5%, respectively, in recent trading, while the Dow Jones Industrial Average rose 0.8%. Stocks were coming off steep losses Thursday, putting the S&P 500 and track to post their fourth straight week of declines. Coming into Friday’s session, the S&P 500 had shed 10.1% since hitting its all-time high just over three weeks ago as President Trump’s moves to impose tariffs have heightened fears that inflation could reaccelerate and economic growth could stall.
Stocks pulled back slightly from their early-session highs this morning after closely watched consumer sentiment data came in weaker than expected. The University of Michigan’s Index of Consumer Sentiment came in 10.5% below the February reading and was down 27% from a year ago.
Market participants are also keeping close tabs on developments in Congress as a possible government shutdown looms.
Shares of the world’s largest technology companies were higher across the board in early trading Friday, led by a 3.5% gain for AI chipmaker Nvidia (NVDA). Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META),Tesla (TSLA) and Broadcom (AVGO) also gained ground.
Among other noteworthy tech gainers, data analytics software provided Palantir (PLTR) and marketing platform AppLovin (APP), two AI investor favorites that have been especially hard hit during the recent sell-off, were each up about 7%. Memory chip maker Micron (MU) was up 6% and server maker Super Micro Computer (SMCI) added 5%.
Strategy (MSTR), formerly known as MicroStrategy and one of the world’s biggest holders of bitcoin, was up 5%, as the digital currency rebounded. Crypto exchange Coinbase Global (COIN) and trading platform Robinhood Markets (HOOD) also rose 3% and 6%, respectively.
Bitcoin was trading at $83,100 in recent trading, after falling below $80,000 yesterday afternoon.
Gold futures were up 0.2% at $3,000 an ounce, trading near record-high levels, while West Texas Intermediate futures, the U.S. crude oil benchmark, added 0.3% to $66.75 per barrel.
The yield on the 10-year Treasury note, which has fallen in recent weeks as economic concerns have mounted, was at 4.30% recently, up from 4.28% at yesterday’s close.
Ulta Beauty Stock Jumps on Strong Results
8 minutes ago
Ulta Beauty (ULTA) shares soared early Friday, a day after the cosmetics retailer reported better-than-expected fourth-quarter results.
Ulta posted earnings per share (EPS) of $8.46 on net sales of $3.49 billion, ahead of Visible Alpha estimates of $7.13 and $3.46 billion, respectively. Comparable sales growth of 1.5% surpassed expectations of a 0.8% increase.
The company sees 2025 EPS of $22.50 to $22.90, net sales of $11.5 billion to $11.6 billion, and comparable sales between flat and up 1%. All are below expectations.
CEO Kecia Steelman, who took over the role after Dave Kimbell retired in January, said the upcoming fiscal year will be “pivotal,” as the company invests to fuel its growth and seeks to “optimize” its business.
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Ulta shares were up nearly 8% in recent trading. Despite this morning’s surge, the stock is down nearly 23% in 2025.
S&P 500, Nasdaq on Pace for 4th Straight Week of Declines
53 minutes ago
The S&P 500 heads into the final trading session of the week on course to post its worst weekly loss since March 2023.
The benchmark index, which dropped into correction on Thursday, is down 4.3% so far this week. It is tracking to finish with weekly losses for the fourth straight week.
The Nasdaq Composite is also on pace for its fourth-consecutive weekly decline, and its fall has been even more precipitous. The tech-heavy index is down 4.9% for the week, its biggest weekly drop since September.
The Dow has lost 4.6% so far this week. If that holds, it would be the worst weekly performance since June 2022.
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So far in 2025, the Nasdaq has declined 10.4% as the AI-related optimism that boosted technology stocks has subsided, while the S&P 500 and the Dow are down 6.1% and 4.1%, respectively.
S&P 500 Chart Levels to Watch as Index Slips Into Correction
1 hr 24 min ago
The S&P 500 (SPX) entered a correction Thursday amid concerns that Trump administration policies, notably tariffs, could slow economic growth and reignite inflation.
After the S&P 500 set a new record high three weeks ago, it promptly reversed, setting up a Wyckoff Spring, a chart signal that indicates a market top before a markdown phase.
Indeed, the index has since trended sharply lower, falling below the closely watched 200-day moving average (MA) on its journey into correction territory.
The relative strength index (RSI) confirms bearish momentum, with the indicator registering its lowest reading since September 2022. However, extreme oversold conditions also raise the possibility of upside price swings.
Investors should watch crucial support levels on the S&P 500’s chart around 5,400 and 5,265, while also monitoring key resistance levels near 5,770 and 6,010.
Read the full technical analysis piece here.
Futures Point to Higher Open for Major Stock Indexes
1 hr 54 min ago
Futures tied to the Dow Jones Industrial Average were 0.6% up in recent trading.
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S&P 500 futures added 0.9%.
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Nasdaq 100 futures jumped 1.2%.
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