U.S. stock markets experienced a significant rally, marking the best performance since the recent election; however, the surge was insufficient to break a trend of four consecutive weeks of losses on Wall Street.
The S&P 500 showed a notable gain of 2.1% on Friday, following a day where it had plummeted more than 10% beneath its peak, marking its first “correction” since 2023. The Dow Jones Industrial Average saw an increase of 1.7%, and the Nasdaq composite climbed by an impressive 2.6%.
Ulta Beauty was among the top market performers, as the beauty retailer posted a stronger-than-anticipated profit for its latest quarter. This alleviated some concerns about the possibility of U.S. consumers reducing their spending due to uncertainty surrounding tariffs.
On Friday, the market data was as follows: The S&P 500 increased by 117.42 points, reaching 5,638.94, equivalent to a 2.1% rise. Meanwhile, the Dow Jones Industrial Average ascended by 674.62 points, ending at 41,488.19, reflecting a 1.7% growth. The Nasdaq composite advanced by 451.07 points to close at 17,754.09, translating to a 2.6% gain. Furthermore, the Russell 2000 index, which includes smaller companies, rose by 50.40 points, amounting to a 2.5% climb, to reach 2,044.10.
Despite the Friday gains, the week’s overall performance saw the markets declining: The S&P 500 suffered a drop of 131.26 points, which is a 2.3% decrease. The Dow slid by 1,313.53 points, marking a 3.1% reduction. The Nasdaq encountered a fall of 442.13 points, translating to a 2.4% decrease. Additionally, the Russell 2000 index decreased by 31.39 points, equivalent to a 1.5% decline.
For the year so far, the markets are reflecting declines: The S&P 500 is down by 242.69 points, representing a 4.1% reduction. The Dow has diminished by 1,056.03 points, which is a 2.5% drop. The Nasdaq has fallen by 1,556.71 points, translating to a notable 8.1% dip. Lastly, the Russell 2000 index has decreased by 186.06 points, marking an 8.3% decline.
