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U.S. stock ended slightly higher on Friday, with the S&P 500 snapping four consecutive weeks of losses, triggered by President Donald Trump’s tariff policies and recession fears. All three major indexes ended in positive territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) advanced 0.1% or 32.03 points, to end at 41,985.35 points.
The S&P 500 added 0.1% or 4.67 points, to close at 5,667.56 points. Communication services and consumer discretionary stocks were the biggest gainers.
The Communication Services Select Sector SPDR (XLC) rose 0.8%, while the Consumer Discretionary Select Sector SPDR (XLY) gained 0.4%. The Technology Select Sector SPDR (XLK) added 0.4%. Eight of the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq climbed 0.5% or 92.4 points to finish at 17,784.05 points.
The fear-gauge CBOE Volatility Index (VIX) was down 2.63% to 19.28. Decliners outnumbered advancers on the NYSE by a 1.93-to-1 ratio. On the Nasdaq, a 1.42-to-1 ratio favored declining issues. A total of 21.05 billion shares were traded on Friday, higher than the last 20-session average of 16.47 billion.
Trump’s Comments Help Stocks Erase Losses
Friday saw a volatile trading session, with stocks paring earlier losses after Trump said that the announced tariffs that are expected to begin in early April will be less burdensome than it was earlier expected. He also said that there would be some “flexibility” with tariffs and that his top trade bosses would speak to their Chinese counterparts next week.
However, he cautioned that all tariffs effective April 2 will be reciprocal as all countries with tariffs on U.S. goods will be slapped with tariffs.
Trump’s proposed tariffs have been hurting markets as investors fear the economy could collapse. Also, higher inflation continues to remain a major roadblock for the Federal Reserve in implementing its next rate cut.
Shares of industry bellwether FedEx Corporation ((FDX - Free Report) ) plunged 11.9% on Friday after the company reported third-quarter fiscal 2025 earnings of $4.51 per share, missing the Zacks Consensus Estimate of $4.65 per share. The company also cut its earnings outlook. FedEx has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
No major economic data was released on Friday.
Weekly Roundup
All three major indexes closed higher for the week, with the S&P 500 avoiding a five-straight week of losses. The Dow rose 1.2% for the week, while the S&P 500 gained 0.5% for the week. The Nasdaq ended the week 0.2% higher.
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Stock Market News For Mar 24, 2025
U.S. stock ended slightly higher on Friday, with the S&P 500 snapping four consecutive weeks of losses, triggered by President Donald Trump’s tariff policies and recession fears. All three major indexes ended in positive territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) advanced 0.1% or 32.03 points, to end at 41,985.35 points.
The S&P 500 added 0.1% or 4.67 points, to close at 5,667.56 points. Communication services and consumer discretionary stocks were the biggest gainers.
The Communication Services Select Sector SPDR (XLC) rose 0.8%, while the Consumer Discretionary Select Sector SPDR (XLY) gained 0.4%. The Technology Select Sector SPDR (XLK) added 0.4%. Eight of the 11 sectors of the benchmark index ended in negative territory.
The tech-heavy Nasdaq climbed 0.5% or 92.4 points to finish at 17,784.05 points.
The fear-gauge CBOE Volatility Index (VIX) was down 2.63% to 19.28. Decliners outnumbered advancers on the NYSE by a 1.93-to-1 ratio. On the Nasdaq, a 1.42-to-1 ratio favored declining issues. A total of 21.05 billion shares were traded on Friday, higher than the last 20-session average of 16.47 billion.
Trump’s Comments Help Stocks Erase Losses
Friday saw a volatile trading session, with stocks paring earlier losses after Trump said that the announced tariffs that are expected to begin in early April will be less burdensome than it was earlier expected. He also said that there would be some “flexibility” with tariffs and that his top trade bosses would speak to their Chinese counterparts next week.
However, he cautioned that all tariffs effective April 2 will be reciprocal as all countries with tariffs on U.S. goods will be slapped with tariffs.
Trump’s proposed tariffs have been hurting markets as investors fear the economy could collapse. Also, higher inflation continues to remain a major roadblock for the Federal Reserve in implementing its next rate cut.
Shares of industry bellwether FedEx Corporation ((FDX - Free Report) ) plunged 11.9% on Friday after the company reported third-quarter fiscal 2025 earnings of $4.51 per share, missing the Zacks Consensus Estimate of $4.65 per share. The company also cut its earnings outlook. FedEx has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
No major economic data was released on Friday.
Weekly Roundup
All three major indexes closed higher for the week, with the S&P 500 avoiding a five-straight week of losses. The Dow rose 1.2% for the week, while the S&P 500 gained 0.5% for the week. The Nasdaq ended the week 0.2% higher.