US Stocks Gain as Earnings and Inflation Data Support Optimism
US stocks advanced on Friday, boosted by strong earnings from Apple and encouraging inflation data that aligned with Federal Reserve expectations. Investors remained cautious amid a looming tariff deadline.
Market Performance
* Nasdaq Composite (^IXIC): +0.92%
* S&P 500 (^GSPC): +0.5%
* Dow Jones Industrial Average (^DJI): +0.39%
Apple Earnings Fuel Sentiment
Apple shares surged at the opening bell following the release of upbeat first-quarter results. Despite lower iPhone sales in China, investors viewed the positive revenue outlook as a sign of potential recovery.
Inflation Gauge Meets Expectations
The Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation gauge, increased 2.8% year-over-year in December, matching economists' estimates. This eased concerns about inflation pressures, supporting the cautious optimism in the market.
Tariff Deadline Concerns Linger
President Trump's threat to impose tariffs on Canada and Mexico revived worries about the economic impact of a potential trade war. The imminent Saturday deadline heightened uncertainty.
Other Market News
* Deckers Outdoor (DECK) shares fell sharply after the company projected slower sales growth for fiscal year 2025.
* Intel (INTC) shares remained under pressure due to weak demand in the chipmaker industry.
* The dollar (DX-Y.NYB) strengthened, heading for its strongest week since November amid tariff uncertainties.