The broader market ticked higher Friday as market participants digested mixed earnings from major tech companies alongside persistent trade uncertainty and its potential impacts on the U.S. economy.
The S&P 500 Index rose about 0.7% higher and the tech-heavy Nasdaq Composite climbed nearly 1.3%, while the Dow Jones Industrial Average ticked above the flatline.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Alphabet
The Google-parent did note, however, that it is "not immune to the macro environment," according to Google Chief Business Officer Philipp Schindler, stating that President Donald Trump's decision to end the de minimis trade exemption -- which allowed shipments worth less than $800 to enter the U.S. duty free -- has impacted online ad spending, particularly from Chinese e-commerce retailers.
"I would say we have a lot of experience in managing through uncertain times, and we focus on helping our customers by providing deep insights into changing consumer behavior that is relevant to their business," Schindler told analysts during the company's earnings call.
Intel's
"The very fluid trade policies in the U.S. and beyond, as well as regulatory risks, have increased the chance of an economic slowdown, with the probability of a recession growing," Chief Financial Officer David Zinsner said during the company's earnings call.
The chipmaker also plans to cut operational and capital expenses by $17 billion and $18 billion, respectively, in 2025, compared to its previous projections for $17.5 billion and $20 billion, respectively.
Wall Street sentiment was further impacted on Friday by Trump saying in an interview with Time magazine that he would consider to have accomplished a "total victory" in his trade war is tariffs on foreign nations range between 20% and 50% a year from now.
"We expect volatility to remain elevated as negotiations continue, but recent developments suggest a less aggressive approach to resolving trade disputes," UBS analysts wrote in a note late Thursday. "The market's strong rebound reflects growing confidence that the most adverse outcome can be avoided, though upcoming news flow will likely continue to drive short-term swings."
Consumer Sentiment also weighed further in April, falling 8.4% month-to-month to a reading of 52.2, according to the University of Michigan's report on Friday. The month's headline reading also reflected a 32% annual decline. Beneath the headline, current economic conditions expectations fell 6.3% month-to-month and consumer expectations for the future economy dropped 10.1%.
"While the April decline in current conditions was modest, the expectations index plummeted with drop-offs in personal finances as well as business conditions," said Joanne Hsu, director of the Surveys of Consumers, in a statement. "Expectations have fallen a precipitous 32% since January, the steepest three-month percentage decline seen since the 1990 recession ... expectations worsened for vast swaths of the population across age, educations, income, and political affiliation."
"Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead. Labor market expectations remained bleak," Hsu continued. "Even more concerning for the path of the economy, consumers anticipated weaker income growth for themselves in the year ahead. Without reliably strong incomes, spending is unlikely to remain strong amid the numerous warnings signs perceived by consumers."
