Stocks end rough week with big gains
The S&P 500 and Nasdaq 100 closed up 1.6%, near their highs of the day, as did the Russell 2000 with a smaller 1.1% advance. For the week, however, all ended lower.
Every S&P 500 sector ETF finished higher, with financials leading the way. All but materials and real estate rose more than 1%. The number of S&P 500 constituents that advanced outnumbered decliners by 379, the highest such reading this year.
Stocks briefly retreated after a spat in the Oval Office between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy, but shrugged that off to have their first positive Friday of Trump 2.0.
Broadly speaking, the momentum names that had been getting crushed this week bounced on Friday.
The Magnificent 7 ripped higher, led by Nvidia and Tesla. The former didn’t manage to reclaim its 200-day moving average, however, though the latter bounced back above that level and ended its worst streak of big losses since March 2020. Carvana, Strategy, and Vertiv Holdings are other names that make the list of stocks that have been dumped finally seeing some relief from the intense selling pressure.
Monster Beverage booked a big gain after showing continued strength in the highly competitive energy drinks space.
Dell dropped after its fourth-quarter sales missed expectations, news that seemingly also weighed on AI server company Super Micro Computer.
FuboTV plunged double digits after reporting lower-than-expected sales and revenue guidance below what the Street had penciled in.
SoundHound AI, on the other hand, ramped nearly 20% after posting better-than-expected sales and a smaller-than-anticipated loss while also raising its 2025 outlook.
