Stocks end higher on Powell remarks, but S&P 500 still posts worst week of 2025
U.S. stocks closed higher Friday after remarks from Federal...
U.S. stocks closed higher Friday after remarks from Federal Reserve Chair Jerome Powell appeared to calm the nerves of investors worried about the economic impact of new White House policies such as tariffs.
The Dow Jones Industrial Average rose 222.64 points Friday, or 0.5%, to finish at 42,801.72.
The S&P 500 gained 31.68 points, or 0.6%, to end at 5,770.20.
The Nasdaq Composite advanced 126.97 points, or 0.7%, to close at 18,196.22.
Stocks reversed losses seen earlier Friday as investors assessed signs of a cooling labor market in the latest jobs data released ahead of the opening bell. Stocks rebounded after Fed Chair Powell said Friday at an event hosted by the University of Chicago Booth School of Business that the “U.S. economy continues to be in a good place” and the central bank’s monetary policy was “well positioned to wait for greater clarity.”
Still, all three major U.S. equities benchmarks had weekly losses, with the S&P 500 seeing its worst week since early September.
For the week, the Dow fell 2.4%, the S&P 500 dropped 3.1% and the technology-heavy Nasdaq slid 3.5%, according to Dow Jones Market Data. The S&P 500 and Nasdaq each booked a third straight weekly loss.
Golden Pass LNG wins more time for full operations
QatarEnergy and ExxonMobil's Golden Pass LNG project in Texas has received...
QatarEnergy and ExxonMobil's Golden Pass LNG project in Texas has received a 3-year permit extension from the Energy Department that gives it until Nov. 30, 2029 to begin full commercial operations. With a planned capacity of 2.57 Bcf/d, the terminal could begin shipping LNG as early as this year.
Oil producers bet on gas to drive revenue growth this year
As oil prices wobble, oil-focused producers such as Devon Energy and...
As oil prices wobble, oil-focused producers such as Devon Energy and EOG Resources are preparing to increase natural gas production this year after benefiting from a sharp rise in gas prices during the fourth quarter of 2024. EOG CEO Ezra Yacob anticipates continued price strength in 2025, driven by growing demand from power generation and the expansion of LNG export capacity.
Trump delayed tariffs on Mexico and Canada until April
No, you are not having déjà vu. President Trump announced on Thursday...
No, you are not having déjà vu. President Trump announced on Thursday that he’s made another change to his tariff plan, writing in a post on Truth Social that after speaking with Mexican President Claudia Sheinbaum, he will hit pause on the 25% tariffs on any imports from Mexico that fall under the USMCA trade agreement (which covers most goods) until April 2. It was initially unclear if Canada was included in the latest about-face, but the White House later clarified that it was. Prime Minister Justin Trudeau said yesterday he expects Canada and the US to be in a trade war for the “foreseeable future.” Trump’s announcement is the latest in a tariff whiplash that’s rocked markets and startled US companies.
Trump is preparing an order to eliminate the Department of Education. The...
Trump is preparing an order to eliminate the Department of Education. The president was expected to sign the executive order yesterday after a draft was leaked to news outlets, but he reportedly backed off because White House officials were worried about the lack of messaging surrounding it, according to ABC News. The draft calls on Education Secretary Linda McMahon to begin dismantling the department, which administers federal funding for schools and oversees the national school lunch program, among other things. But shutting it down would require approval from 60 senators. No president has ever before tried to unilaterally eliminate an entire federal department, per the New York Times.
Walgreens inked a $10 billion deal with private equity firm Sycamore Partners to go private, following years of falling stock prices.
Macy’s said it expects sales to drop this year as shoppers wait to see how tariffs will hit the economy.
On the Border, the casual Mexican restaurant chain, filed for bankruptcy, citing a “rapid loss of liquidity.”
Rep. Al Green, the Democrat from Texas who protested President Trump’s joint address to Congress this week, was censured by the House of Representatives.
240,000 Ukrainians who fled to the US after Russia’s invasion will have their temporary legal protections revoked by the Trump administration, Reuters reported.
