FX.co ★ US Stocks Edged Higher

Major U.S. stock indices rebounded on Friday, closing in positive territory after President Trump hinted at possible "flexibility" regarding tariffs. This came as several large-cap stocks also showed signs of recovery. The trading session was anticipated to be turbulent due to a "quadruple witching" event, where the expiration of stock options, index futures, index options, and single-stock futures simultaneously occurred. The S&P 500 climbed by 0.1%, the Dow Jones increased by 31 points, and the Nasdaq rose by 0.5%. Despite Trump's remarks on tariff flexibility, he reaffirmed that tariffs would remain reciprocal, indicating that any country levying charges on the U.S. would face similar tariffs. Nonetheless, market concerns persisted due to lackluster earnings forecasts. FedEx shares dropped by 6.4% following a downward revision in its earnings expectations amidst industrial slowdown, while Nike fell by 5.5% due to lower sales forecasts. Over the week, the S&P 500 managed a slight increase, edging past four consecutive weeks of losses, while the Dow gained 0.7%, and the Nasdaq concluded the week mostly unchanged.