U.S. stocks bounce back after faulty start Friday

Wall Street climbs wall of worry over trade tariffs

Lola
08 Mar 2025, 02:43 GMT+10

U.S. stocks bounce back after faulty start Friday

The Dow Jones Industrial Average increased by 222.64 points, or 0.52 percent, ending at 42,801.72.
The NASDAQ Composite advanced by 126.96 points, or 0.70 percent, finishing at 18,196.22.
The Standard and Poor's 500 rose by 31.68 points, or 0.55 percent, closing at 5,770.20.

NEW YORK, New York - U.S. stocks fell sharply at the open and stayed in the red for much of the day Friday, however as the day wore on buyers regained the momentum. Recent market downturns are attributed to ongoing global uncertainty, particularly surrounding trade policies and economic data.

In the United States, the economy added 151,000 new jobs in February, leading to a slight increase in the unemployment rate to 4.1 percent from 4 percent in January. This job growth fell short of economists' expectations, contributing to investor apprehension. Additionally, fluctuating tariff policies have created significant market volatility, impacting investor confidence worldwide. Investors and traders Friday regained optimism through the day though, buoyed by iFederal Reserve Chair Jerome Powell's comments and positive corporate earnings reports.

Following are Friday's closing quotes for key U.S. equity markets:

S&P 500: The Standard and Poor's 500 rose by 31.68 points, or 0.55 percent, closing at 5,770.20.
Dow Jones Industrial Average: The Dow Jones Industrial Average increased by 222.64 points, or 0.52 percent, ending at 42,801.72.
NASDAQ Composite: The NASDAQ Composite advanced by 126.96 points, or 0.70 percent, finishing at 18,196.22.

These gains came after Powell indicated that it remains to be seen if the administration's tariff plans will prove to be inflationary, providing reassurance to investors.

Corporate Highlights

Shares of Broadcom surged 8.4 percent following robust fiscal first-quarter results, highlighting strong demand in the semiconductor sector.
Conversely, Hewlett Packard Enterprise's stock declined by 13 percent after reporting disappointing earnings and announcing upcoming layoffs.

Outlook

Analysts remain cautiously optimistic, noting that while the recent gains are encouraging, markets continue to be influenced by ongoing tariffs turmoil, and geopolitical developments

Global Forex Market Overview: Euro Surges Amid U.S. Dollar Weakness

The global foreign exchange market experienced notable shifts on Friday, with the euro achieving its most substantial weekly gain since 2009, driven by investor optimism regarding Germany's fiscal stimulus plans.

Concurrently, the U.S. dollar continued its decline, influenced by economic growth concerns and fluctuating trade policies. The US Dollar Index fell by 0.20 points, a decrease of 0.19 percent, to 103.87.

Major Currency Pairs

EUR/USD (Euro/US Dollar): The euro strengthened against the U.S. dollar, closing at 1.0843, marking an increase of 0.55 percent. This surge is attributed to positive sentiment surrounding Germany's anticipated economic recovery.
USD/JPY (US Dollar/Japanese Yen): The U.S. dollar saw a marginal rise against the Japanese yen, ending at 148.00, up by 0.02 percent.
USD/CAD (US Dollar/Canadian Dollar): The U.S. dollar appreciated against the Canadian dollar, closing at 1.4373, an increase of 0.57 percent.
GBP/USD (British Pound/US Dollar): The British pound strengthened against the U.S. dollar, reaching 1.2922, up by 0.36 percent.
USD/CHF (US Dollar/Swiss Franc): The U.S. dollar depreciated against the Swiss franc, ending at 0.8797, a decrease of 0.42 percent.
AUD/USD (Australian Dollar/US Dollar): The Australian dollar weakened against the American dollar, closing at 0.6308, down by 0.37 percent.
NZD/USD (New Zealand Dollar/US Dollar): The New Zealand dollar declined against the U.S. dollar, ending at 0.5709, a decrease of 0.43 percent.

Global Stock Markets Experience Declines Amid Economic Uncertainty

Global stock markets faced widespread declines on Friday, particularly in Europe and Asia, influenced by economic uncertainties and fluctuating trade policies.

Canadian Markets

S&P/TSX Composite Index: Canada's S&P/TSX Composite Index climbed by 174.72 points, or 0.71 percent, closing at 24,758.76.

UK and European Markets

In the United Kingdom, the FTSE 100 index edged down by 2.96 points, a decrease of 0.03 percent, closing at 8,679.88.

Germany's DAX index experienced a significant drop of 410.54 points, or 1.75 percent, ending at 23,008.94.

In France the CAC 40 index fell by 76.87 points, a decline of 0.94 percent, to close at 8,120.80.

The EURO STOXX 50 index, representing major companies across the eurozone, decreased by 52.06 points, or 0.94 percent, closing at 5,468.41. The Euronext 100 Index saw a reduction of 7.82 points, down 0.49 percent, ending at 1,590.08.

Belgium's BEL 20 index was an exception, gaining 5.97 points, an increase of 0.13 percent, to close at 4,469.34.

Asian and Pacific Markets

Japan's Nikkei 225 experienced a substantial drop of 817.76 points, or 2.17 percent, ending at 36,887.17.

In Hong Kong the Hang Seng Index declined by 138.41 points, or 0.57 percent, closing at 24,231.30.

Singapore's STI Index saw a slight decrease of 2.58 points, down 0.07 percent, ending at 3,914.48.

India's S&P BSE SENSEX experienced a minor decrease of 7.52 points, down 0.01 percent, closing at 74,332.58.

In Indonesia the IDX Composite gained 18.15 points, an increase of 0.27 percent, ending at 6,636.00. Malaysia's FTSE Bursa

Malaysia KLCI decreased by 11.64 points, or 0.75 percent, closing at 1,547.27.

South Korea's KOSPI Composite Index dropped 12.68 points, a decrease of 0.49 percent, ending at 2,563.48.

In Taiwan the TWSE Capitalization Weighted Stock Index declined by 139.36 points, or 0.61 percent, closing at 22,576.07.

Oceania

In Australia the S&P/ASX 200 index dropped by 146.50 points, a decline of 1.81 percent, closing at 7,948.20. The All Ordinaries index similarly fell by 147.90 points, or 1.78 percent, to 8,178.50.

New Zealand's S&P/NZX 50 Index Gross fell by 29.06 points, down 0.23 percent, to 12,399.78.

Currency Indices

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Atlanta Leader.

More Information

null in null