Stocks rallied Friday, clawing back some of the steep losses seen this week, as investors got a reprieve from tariff-related headlines.

The Dow Jones Industrial Average traded 577 points higher, or 1.4%. The S&P 500 climbed 1.8%, and the Nasdaq Composite advanced 2.1%.

Nvidia shares popped more than 4%. Tesla and Meta Platforms gained more than 1% along with Netflix, Amazon and Apple.

Stocks bounced after a lack of new headlines out of the White House related to tariffs, easing concerns around escalating tensions for the time being. Investors might also be scooping up shares after a stock market pullback on Thursday.

A 1.4% drop on Thursday dragged the S&P 500 down 10.1% from its record close notched last month, just 16 trading days ago, bringing it officially into a correction. This is defined as a decline of at least 10% from a recent high. The 30-stock Dow and Nasdaq slid 1.3% and about 2%, respectively, in the session.

With Thursday's decline, the Nasdaq fell further into correction territory and is now down more than 9% this year. The small cap-focused Russell 2000 has dropped around 18% from its recent high, meaning it's closing in on a bear market, or a drawdown of 20%.

That marks another milestone in the pullback that has gripped investors over the past three weeks as President Donald Trump's on-again-off-again tariff policy drove up uncertainty and market volatility. All three major indexes have dropped more than 4% this week.

The Dow is on track for its second straight losing week and worst weekly decline since March 2023. This would be the fourth negative week in a row for the S&P 500 and Nasdaq.

Adding to Friday's positive sentiment was Senate minority leader Chuck Schumer, D-N.Y., saying he wouldn't block a Republican government funding bill.

However, data released Friday from the University of Michigan confirmed that consumer confidence has suffered from the ongoing tariff-related uncertainty, worries that have driven the market down the last three weeks. Consumer sentiment dropped in March to 57.9, lower than the 63.2 economists polled by Dow Jones had expected.

"Consumer sentiment came in worse, inflation expectations are rising, the 10 year Treasury yield is rising. You would think that the market would be off. So a lot of folks are watching to see if this rally has any breadth or legs," said Thomas Martin, portfolio manager at Globalt Investments.

Investors are gearing up for the Federal Reserve policy meeting scheduled for next week, where fed funds futures are pricing in a 97% likelihood of interest rates holding steady, according to CME's FedWatch tool.

"What we would like to see is rates not go up, because that would be an indication that the Fed is losing control. If the Fed says they're cutting and rates go up, that's a lack of confidence," Martin added.

Robinhood is poised to benefit from supportive regulation, says Morgan Stanley

Robinhood is poised to benefit from supportive regulation on a multi-year horizon that "[accelerates] the democratization of finance, spurring innovation and new asset classes/markets."

"On a multi-year view, we see upside to cash equities and options volumes, as U.S. equities markets likely extend trading hours to 24/5, while retail customer initiatives could support growth across derivative products, and regulatory clarity supports volumes across digital assets and mainstreaming of event contracts/prediction markets," Morgan Stanley equity analyst Michael Cyprys said in a note Friday.

"More near-term, elevated volatility lifts volumes and transactional revenues, supporting upside to NT estimates across the group," he added. "We view OW/Top Pick HOOD as best positioned for these themes, with upside to estimates from new crypto initiatives, 24/5 trading (that can catalyze customer growth in Asia/Europe) and prediction markets."

— Tanaya Macheel

Wall Street expect second-quarter bitcoin rally after more March weakness

Bitcoin investors could get some relief in the second quarter if the cryptocurrency maintains two of its most persistent correlations, according to analysts.

The price of bitcoin (BTC) is down 14% in 2025 and is sitting about 26% off its January all-time high after President Donald Trump's tariff threats have wreaked havoc on the market. This week, bitcoin has held steady around the $80,000 level despite broader market volatility, leaving many investors of the cryptocurrency wondering if this is a buying opportunity or if there's more pain in store. 

Wall Street is taking clues from the flagship crypto's positive correlation with money supply growth, also known as M2, and its negative correlation with the U.S. dollar index, or DXY.

For more, read our full story here.

— Tanaya Macheel

See the stocks moving midday

These are some of the stocks making the biggest moves midday:

• Rubrik — The data management stock surged 25% after fourth-quarter results surpassed analyst expectations.
• DocuSign — The electronic signature service company saw shares soar 18% after it beat on the top and bottom lines.
• Crown Castle — The telecom stock rallied 10.4% after announcing it would sell its fiber assets for $8.5 billion to EQT and Zayo.

See the full list here.

— Alex Harring

5 stocks in the S&P 500 trade at new 52-week lows

Five stocks in the S&P 500 traded at new 52-week lows on Friday, including:

• Interpublic Group of Companies trading at lows not seen since Oct, 2022
• Ross Stores trading at lows not seen since Nov, 2023
• Target trading at lows not seen since Oct, 2023
• T. Rowe Price Group trading at lows not seen since Nov, 2023
• JB Hunt trading at lows not seen since Feb, 2021

CenterPoint Energy was the only ticker trading at a new 52-week high.

— Christopher Hayes, Lisa Kailai Han

Trump Media stock tracks for best day in over a month

Shares of Trump Media were last up more than 4% on Friday and tracking for their best day in over a month.

However, the stock is still on pace for its eighth negative week in a row. Since Trump took office, shares have lost half their value.

— Adrian van Hauwermeiren, Lisa Kailai Han

Renaissance IPO ETF heads for best day since August

The Renaissance IPO ETF (IPO) rose more than 3% in Friday morning trading, putting the fund on track for its third positive session in four and its best day since Aug. 23, when it gained 3.6%.

The fund tracks stocks that have entered the public markets over the past three years. Its top holdings include Kenvue, Arm Holdings and Astera Labs.

However, the fund is still on track for its fifth-straight losing week, which would be its longest such stretch since 2022.

— Jesse Pound, Nick Wells

Precious metals gain this week, with Palladium hitting highest level since Feb. 21

The Precious Metals ETF (GLTR) was last up 3% on the week, and pacing for its best week since Nov. 22 and 10th positive week in 11.

Among the inputs boosting the fund higher was palladium. Palladium's June-dated futures hit their highest level since Feb. 21 and were pacing for a 3% week-to-date gain. Similarly, platinum's April-dated futures also hit their highest level since Feb. 14.

— Gina Francolla, Lisa Kailai Han

S&P 500 pacing for worst weekly performance since week of SVB's collapse, Deutsche Bank points out

The S&P 500 fell into correction territory on Thursday, pushed lower by fresh tariff threats from President Donald Trump.

The broad market benchmark is down 4.31% on the week, as of Thursday's close. In a Friday note, Deutsche Bank pointed out that if this decline is realized, it would mark the index's worst weekly performance since the week of Silicon Valley Bank's collapse two years ago.

"As in recent days, the Magnificent 7 (-2.49%) led the declines, moving back into bear market territory having shed -20.25% since its December peak," the bank wrote. "And even though tech led the losses, it was still a broad-based decline, with the equal weighted S&P 500 (-1.00%) struggling as 78% of its constituents lost ground on the day."

— Lisa Kailai Han

Gold hits new intraday all-time high

Investors have been buying up safe haven assets such as gold in the midst of President Donald Trump's ramping trade war. On Friday, the precious metal's April-dated futures hit a fresh intraday all-time high of 3,017.1 per ounce.

Week to date, gold is up 3.3% and pacing for its best week since Nov. 22, 2024.

— Gina Francolla, Lisa Kailai Han

Stocks bounce after Thursday's losses

Stocks clawed back some of their weekly losses on Friday.

The Dow Jones Industrial Average added 207 points, or 0.5%. The S&P 500 added 0.9%, and the Nasdaq Composite rose 1.5%.

— Lisa Kailai Han

Citi downgrades T-Mobile

T-Mobile's valuation may have run too far ahead of its peers in the sector, according to Citigroup.

The firm downgraded the telecommunications stock to neutral from from buy in a Thursday note, but left its $268 per share price target unchanged. Citi's forecast implies about 3% upside from Thursday's $259.10 close.

"T-Mobile continues to generate favorable growth relative to the category and its competitors," analyst Michael Rollins said. "However, TMUS valuation at a FV/EBITDA of ~11x has stayed elevated above its competitors at an average of ~6x on our 2025 estimates and we do not see any immediate accelerators to quickly reduce T-Mobile's premium."

— Brian Evans

Chipotle, Li Auto among stocks moving before market open

Check out the companies making headlines before the bell:

• Rubrik — The data management stock popped 18.5%. Rubrik beat Wall Street's expectations, posting an adjusted loss of 18 cents per share for its fourth quarter, which was narrower than the 39 cent loss expected from analysts polled by LSEG. The company also reported $258 million in revenue, above the consensus estimate of $233 million.
• Chipotle Mexican Grill — The stock rose about 2% after receiving an upgrade to buy from hold at Loop Capital. The firm believes its recent pullback has created an attractive buying opportunity for investors and said that the name is good for managing risk related to President Donald Trump's tariffs.
• Li Auto — U.S.-listed shares of the Chinese electric vehicle maker fell nearly 6% after the company posted a decline in its fourth-quarter net profit. The company's deliveries rose 20% in its latest financial quarter, reflecting the impact of price cuts on its overall revenue.

For the full list, read here.

— Pia Singh

Investors should embrace diversification amid elevated market volatility, UBS says

During this time of ongoing market uncertainty, UBS recommended investors consider diversifying their portfolios to mitigate concentration risks.

"Historical data shows that for U.S. dollar-based investors, risk decreases as the number of countries in a stock portfolio increases," the bank wrote in a Friday note. "So, we recommend investors embrace diversification and stay invested despite ongoing volatility. We see continued positive potential returns in the U.S. equity market, artificial intelligence stocks, as well as companies linked to power and resources."

Within Asia, UBS likes Indian and Taiwanese equities. Within Europe, the bank sees several emerging opportunities, such as post-election beneficiaries in Germany and rising security investments.

UBS added that beyond geographic diversification, investors should also consider adding bonds, gold and alternative assets to their portfolios.

— Lisa Kailai Han

Chinese stocks close at three-month high, leading gains in Asia, despite fall on Wall Street

Asia-Pacific markets mostly rose on Friday despite a plunge in all three benchmarks in the U.S. over the previous session amid concern about President Donald Trump's tariff plans.

Mainland China's CSI 300 led gains in Asia, rising 2.43% to end the end the day at a three-month high of 4,006.56. This follows stronger movements in the healthcare, consumer cyclicals and non-cyclicals sectors.

Hong Kong's Hang Seng Index rose 2.12% to end the day at 23,959.98. Pharmaceuticals company WuXi Biologics was the top mover in the index, gaining 13.95%.

Other top performing stocks include BYD which surged 6.04%, Meituan which rose 5.71% and Ping An Insurance which was up 5.59%.

In Japan, the benchmark Nikkei 225 ended the day 0.72% higher at 37,053.10, while the broader Topix index rose 0.65% to 2,715.85.

South Korea's Kospi index lost 0.28% to close at 2,566.36 while the small-cap Kosdaq advanced 1.59% to 734.26.

Australia's S&P/ASX 200 ended the trading day 0.52% higher at 7,789.70.

Indian markets were closed for a public holiday.

— Amala Balakrishner

Utilities emerge as the only winning sector in a grim week for the market

The S&P 500's utilities sector is on pace for the slimmest of gains this week – up just 0.02% through Thursday's close.

This corner of the market, known for its dividend payments, is a rare bright spot for stocks, which have been whiplashed amid President Donald Trump's tariff plans. The utilities managed to emerge from Thursday's tumble – in which the S&P 500 closed in correction territory – with a roughly 0.3% gain.

Big winners this year in utilities include Consolidated Edison, up 17%; Exelon, up 15.5%; and American Water Works, up 14.5%. ConEd has a dividend yield of 3.3%, while Exelon pays a dividend yield of 3.7%. American Water Works' dividend yield is 2.1%.

–Jason Gewirtz, Darla Mercado

Five of the Mag 7 stocks are already in a bear market, and the other two are thisclose

Five of the Magnificent 7 stocks that led the market higher in the bull market of 2023 and 2024 are now down 20% or more from their recent highs — regarded on Wall Street as signaling a bear market in a given asset — as of Thursday's close. The other two are less than one percentage point away.

Here's all the members:

• Tesla -50.7% (12/18 high)
• Nvidia -24.5% (1/7)
• Alphabet -21.4% (2/4)
• Meta Platforms -20.3% (2/14)
• Amazon -20.1% (2/4)
• Apple -19.4% (12/26)
• Microsoft -19.1% (7/5)

— Scott Schnipper

See the stocks moving after hours

These are the stocks moving in extended trading:

• Ulta Beauty — Shares of the beauty retailer popped 7% after the company surpassed expectations for the fourth quarter.
• PagerDuty — The data stock surged 9% following strong earnings and the announcement of a share repurchase program.

See the full list here.

— Alex Harring

Stock futures rise

Stock futures ticked higher shortly after 6 p.m. ET.

S&P 500 and Dow futures each added 0.2%. Nasdaq 100 futures increased 0.3%.

— Alex Harring