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Wall Street Today: Friday was Going Great Before Someone said 'Tarriffs'
The market started with a climb Friday morning, even after inflation data showed prices were headed in the wrong direction, and Tumps near daily reprisal in his role in sounding the tariff alarm participated a drop. Trump has said he will implement 20-30% tariffs on allies and enemies alike starting in February.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ traded -0.50%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.75%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.28%.
For the month the S&P 500 climbed 2.70%, the Nasdaq Composite Index climbed 1.64%, and the Dow Jones Industrial Average climbed 4.70%.
MACRO
PCE numbers showed that core inflation climbed by 2.8% in December, and inflation, including food and energy costs, climbed by 2.6%, the most since June of 2024. Six months later, it looks like PCE inflation, the FOMC's favorite way to track, is climbing, not reversing.
The White House said 25% tariffs on Mexico and Canada and 10% tariffs on China are coming over the weekend, representing about $1.43 trillion in imports. Tariffs like the White House describes would amount to $276.45 billion in tax revenue collected from U.S. importers in about a year.
SECTORS
Within industry themes tracked by moomoo, Semiconductors, DeepSeek, and Stargate stocks all rose as a group Friday, one big happy family after four massive chip and tech earnings showed this week that the big stocks were still making money, even if smaller firms find cheaper ways to sell AI.
Elsewhere in the economy, $Crude Oil Futures(APR5) (CLmain.US)$ fell Friday to $72/barrel. Gold continued to hit records, and silver fell, while treasuries fell. $Bitcoin (BTC.CC)$ hovered at $105,000.
MOOVERS
$Walgreens Boots Alliance (WBA.US)$ fell 10% after the firm said it would suspend its quarterly dividend to shareholders. WSJ reported that the Justice Department sued the pharmacy company this month for allegedly dispensing opioid pills inappropriately.
$Deckers Outdoor (DECK.US)$, the Hoka and Ugg shoemaker fell 20%, the lowest on the S&P 500, after sales jumped 17% to $1.83 billion. What was the market unhappy about? The company said its sales estimate for its current fiscal year was about $4.9 billion, below estimates for $4.93 billion.
$Visa (V.US)$ shares fell Friday after the credit card firm reported an earnings beat, and said it's payments volume climbed 9%.
$Exxon Mobil (XOM.US)$ shares fell 2.50% after the firm Friday said its revenue for the quarter came in at $83 billion, not enough for Wall Street expectations. $Chevron (CVX.US)$ called the Gulf of Mexico, the Gulf of America, in its Friday morning earnings release, but that did not stop the stock from falling 4% after the firm said it pulled in less per-share profit this year and lost money refining jet fuel that saw lower demand.
$Apple (AAPL.US)$ earnings meanwhile looked fine; they beat estimates for revenue, but iPhone sales slipped- with the largest drop coming from the Chinese market. The firm said revenue came in at $124.30 billion vs estimates of $124.22 billion, but sales in China were much softer than analysts had thought: 14% lower, at just $18.51 billion. Shares fell Friday.
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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Mr Travis : go. Mr TRUMP
JezzyTheApe : Poor baby, Trump ruin your day?
nice Elephant_6987 : tariffs will lead to cheaper taxes for all of us.If the markets arent handling it well..they will eventually.
Gilley : it started the moment trump talks with nvda got pushed the first time and never happened till close they say meeting that we're made out to be a big deal turned into a meeting over restrictions public got played huge by usa government
NoDragonsPlz : so we go to moon?
70141151 Gilley : Feels like this week Huajie has started robbing money, really need to bottom out at least 2% if it's a panic. Some stocks heavily reliant on commodity prices didn't drop by the closing time...
Will Edwards JezzyTheApe : if losing money unnecessarily ruins a person's day?.....yes
Kevin Travers OP JezzyTheApe : no, but I think tarriff talk ‘owned the libs’ by contributing to the dow and s&p 500 falling, great stuff! bait is yummy
John Parks436 : Remember to keep an eye on the big picture. Take some profits while you can and get some bargains on the way down.
A market correction is likely coming this year. Maybe as early as March with volatility through June. So position yourself accordingly. And if you know hoe to make money on the downside, lick your chops.
JezzyTheApe Will Edwards : Blame the first false report by Reuters. Idiots said the Tariffs would’nt hit u till March 1st. Also, everyone knew Trump was going to push Tariffs from day 1.
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