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A solid Wall Street week is ending with gains for stocks as a rally in the market’s most-influential group offset conflicting signals about progress in President Donald Trump’s trade negotiations.
The surge in tech mega caps put the S&P 500 on track for its longest advance since January. Tesla shares jumped while Google parent Alphabet Inc. climbed on solid results. Equities briefly lost steam as Trump suggested another delay to his higher so-called “reciprocal” tariffs was unlikely, raising pressure on nations to negotiate trade deals with his administration.
Asked about the possibility of granting another 90-day pause, Trump cast that scenario as “unlikely,” while speaking to reporters aboard Air Force One on Friday. Trump also said that he would not drop tariffs on China, the world’s second largest economy, unless Beijing offers “something substantial” in return.
Trump said he believed financial markets were adjusting to his tariff policy, downplaying the volatility that has hit equity and bond markets this month after he announced plans to hit about 60 US trading partners with higher duties.
Today's show features:
- Bloomberg TV & Radio Economics and Policy Correspondent Mike McKee
- CFO Briefing with Zach Wasserman, CFO of Huntington Bancshares and Bloomberg News Senior Editor Nina Trentmann
- Bloomberg News Wealth reporter Devon Pendleton
- Adrianne Yamaki, Founder & Managing Partner with Strategic Wealth Capital
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