US stocks traded with minor fluctuations on Friday, maintaining weekly gains as investors digested corporate earnings and policy signals from President Trump.
US stocks hold week' strong momentum
The S&P 500 held steady near record highs, the Nasdaq edged slightly higher, and the Dow slipped by 50 points. Despite the mixed movements, all three major indexes posted a 2% increase for the week.
President Trump indicated that his administration would prefer to avoid imposing tariffs on China, reducing the risk of heightened input inflation for manufacturers. However, he reiterated warnings of potential tariffs on Mexico and Canada, while refraining from imposing new trade restrictions on the EU.
American Express and Verizon lead the gains
In corporate news, American Express edged higher after reporting record annual revenue, while Verizon surged over 3% following stronger-than-expected earnings. Investors also weighed the potential returns from Verizon’s growing investments in 5G technology, which continue to attract attention.
On the economic front, flash S&P Global PMI data painted a mixed picture. Growth in services activity softened in January, while manufacturing unexpectedly rebounded, offering some optimism for the industrial sector. These developments kept markets relatively stable, with traders eyeing upcoming data and earnings reports to gauge the strength of the broader economy.
