US Stocks Pick Up Slight Traction
In the final trading session of the week, most U.S. stocks gained momentum in afternoon trading as investors evaluated corporate earnings and the uncertainties surrounding President Trump's tariff strategies. The S&P 500 rose by approximately 0.6%, while the Nasdaq 100 increased by 0.45%. Eli Lilly experienced a significant surge of over 15% following promising results from tests of its new obesity medication. TSMC also saw an uptick after issuing robust guidance; however, the overall semiconductor sector remained delicate due to President Trump's export ban against Nvidia. Regarding trade, proposed tariffs on copper, semiconductors, pharmaceuticals, and lumber have yet to receive confirmation from the White House, although reports suggest negotiations with Japan are approaching. Market risk was further intensified by Trump's critique of Federal Reserve Chair Powell, who issued a warning that tariffs could hinder growth and trigger inflation. Conversely, UnitedHealth futures dropped by 23% following their earnings report, significantly contributing to a nearly 1% decline in the Dow.
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