- Clinging to gains
Stocks are clinging to weekly gains after another losing session on Thursday. With one trading day left in the week, the Dow Jones Industrial Average
is up 0.75% over the period, the S&P 500
is up 0.45% and the Nasdaq Composite
is up 0.11% . New tariffs on auto imports hurt markets earlier this week, with more new levies set to take effect next week. “I don’t expect that market volatility is going to calm until we have more policy [certainty]. And a lot of us are looking to see if we get that next week,” said Lauren Goodwin, New York Life Investments’ chief market strategist. “I’m not really seeing it. I anticipate that this volatility is here to stay with us.” Follow live market updates. - Auto stocks fell on Thursday in the face of new tariffs. General Motors
- took the biggest hit, losing 7% after President Donald Trump announced 25% duties on “all cars that are not made in the United States.” Ford Motor
- and Stellantis
- also lost ground, falling roughly 4% and 1%, respectively. Tesla
- , deemed Wall Street’s winner in the shuffle, ended the day barely positive after trading up as much as 7% earlier in the session. Ferrari,
- which said it would increase prices on some models of its sports car, gained 3%.
- Friday mornings often mean new economic data. This time it’s the monthly personal consumption expenditures price index (PCE) from the Commerce Department. The report came in hotter than expected, with core inflation in February hitting 2.8%, an increase of 0.4% for the month. Consumer spending for the month rose 0.4%, less than the 0.5% growth that economists had expected, even as personal income rose more than expected.
