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Wall Street slumped on Friday after U.S. President Donald Trump escalated his trade conflict with China after Beijing tightened its rare earth restrictions.

Late on Friday after Wall Street's official trading session, Trump said he would impose an additional 100% tariff on imports from China, as well as export controls on critical U.S.-made software, an announcement that sent Big Tech shares tumbling.

Nvidia, Tesla, Amazon and Advanced Micro Devices all fell more than 2% after the bell.

Those losses added to already steep declines during Friday's trading session after Trump warned in a post on Truth Social earlier in the day that he was weighing a "massive" tariff increase on Chinese imports and said there is no reason to meet with China's President Xi Jinping in two weeks as planned, adding that there are "many other countermeasures" under consideration.

Trump's latest move against China shocked markets and threatened further damage to already strained relations between the world's two largest economies.
All three major U.S. stock indexes sold off sharply during Friday's session before stocks extended losses after the bell.

The S&amp;P 500 and the Nasdaq suffered their largest single-day percentage drops since April 10. On a weekly basis, the S&amp;P 500 logged its biggest drop since May, while the Nasdaq's Friday-to-Friday decline was its steepest since April.

"The second largest economy and the first largest economy are arguing again, and we're seeing a sell first, ask questions later mentality to end the week," said Ryan Detrick, chief market strategist at Carson Group in Omaha. "President Trump's post did truly come out of nowhere, which opened the door for some extreme volatility."

"And it's important to remember we haven't had this level of volatility in a long time," Detrick added. "One could argue we were due for some spookiness this October."
Trump's erratic trade policies have rattled markets since his April 2 "Liberation Day" tariff announcement, with on-again, off-again trade negotiations, causing turbulence across asset classes.

The Dow Jones Industrial Average fell 878.82 points, or 1.90%, to 45,479.60, the S&amp;P 500 lost 182.60 points, or 2.71%, to 6,552.51 and the Nasdaq Composite lost 820.20 points, or 3.56%, to 22,204.43.

The Philadelphia Stock Exchange Semiconductor Index dropped 6.3%, in the wake of Trump's announcement.

China produces over 90% of the world's processed rare earths and rare earth magnets, which are critical for products ranging from electric vehicles and aircraft engines to military radars.

An escalating trade war between the two largest global economies could trigger major supply chain disruptions, particularly for the technology, electric vehicle and defense industries.

The CBOE Volatility Index viewed as a reflection of market anxiety, reached its highest closing level since June 19.

U.S.-listed shares of Chinese companies dropped sharply, with heavyweights Alibaba Group Holding , JD.com Inc and PDD Holdings down between 5.3% and 8.5%.

Qualcomm fell 7.3% after China's market regulator said the country had launched an antitrust investigation into the semiconductor manufacturer over its acquisition of Israel's Autotalks.

The U.S. government is currently in its 10th day of shutdown as a congressional impasse has so far yielded few signs of progress or serious negotiation. This has resulted in a data blackout, with official government economic indicators postponed for the time being.

Still, data from independent sources continues unabated. The University of Michigan released its preliminary take on October consumer sentiment, which is drifting along near historic lows as high prices and weakening job prospects remain at the forefront of consumer worries.

In the absence of official data, investors look to the U.S. Federal Reserve for clues regarding near-term interest rate cuts.

Fed Governor Christopher Waller said that while private employment data continues to show labor market weakness, the central bank should act with caution when reducing the Fed funds target rate as it evaluates the economy.

St. Louis Fed President Alberto Musalem echoed that sentiment, saying that another rate cut could be warranted as insurance against a weakening labor market. "I believe that we have to tread with caution" before monetary policy becomes too accommodative, he said.

A spate of large financial firms - including JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo - is set to release quarterly results on Tuesday, marking the unofficial launch of third-quarter earnings season.

Analysts currently expect third-quarter S&amp;P 500 earnings growth of 8.8% year-on-year, on aggregate, compared with annual growth of 13.8% last quarter and 9.1% in Q3 2024, according to LSEG data.

Declining issues outnumbered advancers by a 4.36-to-1 ratio on the NYSE. There were 215 new highs and 167 new lows on the NYSE.

On the Nasdaq, 799 stocks rose and 3,936 fell as declining issues outnumbered advancers by a 4.93-to-1 ratio.

The S&amp;P 500 posted 18 new 52-week highs and 19 new lows while the Nasdaq Composite recorded 102 new highs and 145 new lows.

Volume on U.S. exchanges was 24.26 billion shares, compared with the 20.15 billion average for the full session over the last 20 trading days.

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Wall Street sells off as Trump hits China with more tariffs

Wall Street slumped on Friday after U.S. President Donald Trump escalated his trade conflict with China after Beijing tightened its rare earth restrictions.

Late on Friday after Wall Street's official trading session, Trump said he would impose an additional 100% tariff on imports from China, as well as export controls on critical U.S.-made software, an announcement that sent Big Tech shares tumbling.

Nvidia, Tesla, Amazon and Advanced Micro Devices all fell more than 2% after the bell.

Those losses added to already steep declines during Friday's trading session after Trump warned in a post on Truth Social earlier in the day that he was weighing a &quot;massive&quot; tariff increase on Chinese imports and said there is no reason to meet with China's President Xi Jinping in two weeks as planned, adding that there are &quot;many other countermeasures&quot; under consideration.

Trump's latest move against China shocked markets and threatened further damage to already strained relations between the world's two largest economies.
All three major U.S. stock indexes sold off sharply during Friday's session before stocks extended losses after the bell.

The S&amp;amp;P 500 and the Nasdaq suffered their largest single-day percentage drops since April 10. On a weekly basis, the S&amp;amp;P 500 logged its biggest drop since May, while the Nasdaq's Friday-to-Friday decline was its steepest since April.

&quot;The second largest economy and the first largest economy are arguing again, and we're seeing a sell first, ask questions later mentality to end the week,&quot; said Ryan Detrick, chief market strategist at Carson Group in Omaha. &quot;President Trump's post did truly come out of nowhere, which opened the door for some extreme volatility.&quot;

&quot;And it's important to remember we haven't had this level of volatility in a long time,&quot; Detrick added. &quot;One could argue we were due for some spookiness this October.&quot;
Trump's erratic trade policies have rattled markets since his April 2 &quot;Liberation Day&quot; tariff announcement, with on-again, off-again trade negotiations, causing turbulence across asset classes.

The Dow Jones Industrial Average fell 878.82 points, or 1.90%, to 45,479.60, the S&amp;amp;P 500 lost 182.60 points, or 2.71%, to 6,552.51 and the Nasdaq Composite lost 820.20 points, or 3.56%, to 22,204.43.

The Philadelphia Stock Exchange Semiconductor Index dropped 6.3%, in the wake of Trump's announcement.

China produces over 90% of the world's processed rare earths and rare earth magnets, which are critical for products ranging from electric vehicles and aircraft engines to military radars.

An escalating trade war between the two largest global economies could trigger major supply chain disruptions, particularly for the technology, electric vehicle and defense industries.

The CBOE Volatility Index viewed as a reflection of market anxiety, reached its highest closing level since June 19.

U.S.-listed shares of Chinese companies dropped sharply, with heavyweights Alibaba Group Holding , JD.com Inc and PDD Holdings down between 5.3% and 8.5%.

Qualcomm fell 7.3% after China's market regulator said the country had launched an antitrust investigation into the semiconductor manufacturer over its acquisition of Israel's Autotalks.

The U.S. government is currently in its 10th day of shutdown as a congressional impasse has so far yielded few signs of progress or serious negotiation. This has resulted in a data blackout, with official government economic indicators postponed for the time being.

Still, data from independent sources continues unabated. The University of Michigan released its preliminary take on October consumer sentiment, which is drifting along near historic lows as high prices and weakening job prospects remain at the forefront of consumer worries.

In the absence of official data, investors look to the U.S. Federal Reserve for clues regarding near-term interest rate cuts.

Fed Governor Christopher Waller said that while private employment data continues to show labor market weakness, the central bank should act with caution when reducing the Fed funds target rate as it evaluates the economy.

St. Louis Fed President Alberto Musalem echoed that sentiment, saying that another rate cut could be warranted as insurance against a weakening labor market. &quot;I believe that we have to tread with caution&quot; before monetary policy becomes too accommodative, he said.

A spate of large financial firms - including JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo - is set to release quarterly results on Tuesday, marking the unofficial launch of third-quarter earnings season.

Analysts currently expect third-quarter S&amp;amp;P 500 earnings growth of 8.8% year-on-year, on aggregate, compared with annual growth of 13.8% last quarter and 9.1% in Q3 2024, according to LSEG data.

Declining issues outnumbered advancers by a 4.36-to-1 ratio on the NYSE. There were 215 new highs and 167 new lows on the NYSE.

On the Nasdaq, 799 stocks rose and 3,936 fell as declining issues outnumbered advancers by a 4.93-to-1 ratio.

The S&amp;amp;P 500 posted 18 new 52-week highs and 19 new lows while the Nasdaq Composite recorded 102 new highs and 145 new lows.

Volume on U.S. exchanges was 24.26 billion shares, compared with the 20.15 billion average for the full session over the last 20 trading days.

The S&amp;P 500 eked out a record closing high in a volatile session Friday, with interest rate-cut expectations holding up as the U.S. government shutdown went on for a third day.

The Dow also posted a record closing high, but the Nasdaq ended lower.

The S&amp;P 500 technology sector eased, with shares of Applied Materials declining 2.7% after the chip-equipment maker late Thursday forecast a $600 million hit to fiscal 2026 revenue.

Shares of Tesla were 1.4% lower, while utilities rose 1.2% and led gains among S&amp;P 500 sectors.

The U.S. nonfarm payrolls report for September was due for release on Friday, but was not published due to the government closure. Investors were still able to digest a survey by the Institute for Supply Management, which showed the services employment index contracted for the fourth consecutive month. The news underscored the case for more interest rate cuts from the Federal Reserve.

"It certainly feels like momentum is on the side of investors over the last few days," said Mona Mahajan, head of investment strategy at Edward Jones.

It seems like "the market probability of a Fed rate cut has actually gone up since the shutdown began," she said. "Maybe that's because there's the potential impact on the economy or some weaker jobs data this week or this morning's ISM data... the expectation is we're still in this environment where the Fed is going to cut rates."

The Fed cut rates in September for the first time since December amid recent labor market weakness. On Wednesday, a report showed a decline in private payrolls of 32,000 and a downwardly revised 3,000 decline in August.

The Dow Jones Industrial Average rose 238.56 points, or 0.51%, to 46,758.28, the S&amp;P 500 gained 0.44 points, or 0.01%, to 6,715.79 and the Nasdaq Composite lost 63.54 points, or 0.28%, to 22,780.51.

For the week, the Dow gained 1.1%, the S&amp;P 500 also climbed 1.1% and the Nasdaq rose 1.3%.

The market has historically shrugged off government shutdowns, but some strategists said that a longer shutdown could create more uncertainty for investors and for Fed policymakers.

"The market generally looks past government shutdowns because they don't usually last long and they don't have a longer-term negative impact on the economy," said Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan.

"But the longer it goes... it means the data collection for really important reports could get delayed, or it could cloud some of the data that we will eventually get because the data collection wasn't happening over an extended period."

Chicago Fed President Austan Goolsbee said he was hesitant to commit to a series of rate cuts with inflation still running above the target.

According to the CME Group’s FedWatch Tool, traders see a 25-basis-point cut at the Fed's October meeting as almost certain and are pricing in an 84% probability of an additional cut in December.

Shares of USA Rare Earth rose 14.3% after CEO Barbara Humpton told CNBC the company was "in close communication" with the White House.

Advancing issues outnumbered decliners by a 1.72-to-1 ratio on the NYSE. There were 686 new highs and 55 new lows on the NYSE.

On the Nasdaq, 2,813 stocks rose and 1,880 fell as advancing issues outnumbered decliners by a 1.5-to-1 ratio.

Volume on U.S. exchanges was 20.47 billion shares, compared with the 19.01 billion average for the full session over the last 20 trading days.

Dow, S&P 500 manage record closing highs; Nasdaq falls in volatile session

The S&amp;amp;P 500 eked out a record closing high in a volatile session Friday, with interest rate-cut expectations holding up as the U.S. government shutdown went on for a third day.

The Dow also posted a record closing high, but the Nasdaq ended lower.

The S&amp;amp;P 500 technology sector eased, with shares of Applied Materials declining 2.7% after the chip-equipment maker late Thursday forecast a $600 million hit to fiscal 2026 revenue.

Shares of Tesla were 1.4% lower, while utilities rose 1.2% and led gains among S&amp;amp;P 500 sectors.

The U.S. nonfarm payrolls report for September was due for release on Friday, but was not published due to the government closure. Investors were still able to digest a survey by the Institute for Supply Management, which showed the services employment index contracted for the fourth consecutive month. The news underscored the case for more interest rate cuts from the Federal Reserve.

&quot;It certainly feels like momentum is on the side of investors over the last few days,&quot; said Mona Mahajan, head of investment strategy at Edward Jones.

It seems like &quot;the market probability of a Fed rate cut has actually gone up since the shutdown began,&quot; she said. &quot;Maybe that's because there's the potential impact on the economy or some weaker jobs data this week or this morning's ISM data... the expectation is we're still in this environment where the Fed is going to cut rates.&quot;

The Fed cut rates in September for the first time since December amid recent labor market weakness. On Wednesday, a report showed a decline in private payrolls of 32,000 and a downwardly revised 3,000 decline in August.

The Dow Jones Industrial Average rose 238.56 points, or 0.51%, to 46,758.28, the S&amp;amp;P 500 gained 0.44 points, or 0.01%, to 6,715.79 and the Nasdaq Composite lost 63.54 points, or 0.28%, to 22,780.51.

For the week, the Dow gained 1.1%, the S&amp;amp;P 500 also climbed 1.1% and the Nasdaq rose 1.3%.

The market has historically shrugged off government shutdowns, but some strategists said that a longer shutdown could create more uncertainty for investors and for Fed policymakers.

&quot;The market generally looks past government shutdowns because they don't usually last long and they don't have a longer-term negative impact on the economy,&quot; said Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan.

&quot;But the longer it goes... it means the data collection for really important reports could get delayed, or it could cloud some of the data that we will eventually get because the data collection wasn't happening over an extended period.&quot;

Chicago Fed President Austan Goolsbee said he was hesitant to commit to a series of rate cuts with inflation still running above the target.

According to the CME Group’s FedWatch Tool, traders see a 25-basis-point cut at the Fed's October meeting as almost certain and are pricing in an 84% probability of an additional cut in December.

Shares of USA Rare Earth rose 14.3% after CEO Barbara Humpton told CNBC the company was &quot;in close communication&quot; with the White House.

Advancing issues outnumbered decliners by a 1.72-to-1 ratio on the NYSE. There were 686 new highs and 55 new lows on the NYSE.

On the Nasdaq, 2,813 stocks rose and 1,880 fell as advancing issues outnumbered decliners by a 1.5-to-1 ratio.

Volume on U.S. exchanges was 20.47 billion shares, compared with the 19.01 billion average for the full session over the last 20 trading days.

Dow, S&amp;P 500 manage record closing highs; Nasdaq falls in volatile session

Wall Street's main stock indexes closed higher on Wednesday, with the biggest boost from the healthcare sector, as investors looked past weaker-than-expected private payrolls data and uncertainty around the first day of the U.S. federal government shutdown.

With the Labor Department's September jobs report expected to be postponed if the government has not reopened by Friday, investors were paying close attention to the ADP National Employment Report.

ADP showed a decline in private payrolls of 32,000 and a downwardly revised 3,000 decline in August. These numbers were weaker than economist forecasts for growth of 50,000 in September and the prior report of a 54,000 advance in August.

Elsewhere in economic data, the Institute for Supply Management showed U.S. manufacturing edged toward recovery in September.

After opening lower, all three main U.S. indexes advanced. Among the S&amp;P 500's 11 major industry sectors, the biggest gainer was S&amp;P 500 healthcare (.SPXHC), opens new tab, boosted by pharmaceutical companies.

The healthcare rally started in earnest on Tuesday after Pfizer (PFE.N), opens new tab and U.S. President Donald Trump said they had cut a deal. The drugmaker agreed to lower prescription drug prices in the Medicaid program - compared to its charges in other developed countries - in exchange for tariff relief. Trump said he expected more drug companies to follow suit.

"Yesterday was the catalyst for healthcare," said Lara Castleton, U.S. head of portfolio construction and strategy at Janus Henderson Investors, adding that the sector was probably ripe for a rally after underperforming the rest of the market so far this year.

"People have not necessarily been avoiding it, but they have not been as heavily allocated into healthcare as they have been in technology and all the AI hype," she said.

The Dow Jones Industrial Average rose 43.21 points, or 0.09%, to 46,441.10, the S&amp;P 500 gained 22.74 points, or 0.34%, to 6,711.20 and the Nasdaq Composite gained 95.15 points, or 0.42%, to 22,755.16.

The S&amp;P 500 tech sector provided the second biggest boost for the benchmark index, with Micron rallying 8.9% and the broader Philadelphia chip index adding 2%.

The sector with the biggest percentage decline during the session was materials, which ended the day down more than 1%.

The healthcare sector's biggest gainers were Biogen, up 10.9% and Thermo Fisher, up 9.4%.

Castleton noted that equity investors appeared to be shrugging off uncertainties around the shutdown. Markets have historically been resilient during government closures.

The S&amp;P 500 rose during each of the last six shutdowns, according to a note from Deutsche Bank. During the last government closure between the end of 2018 and the beginning of 2019, indexes were able to advance.

Index performance during the 2018 to 2019 government shutdown

In individual stocks, a 16.8% rally in shares of AES made it the biggest gainer in the benchmark index and a strong boost for the S&amp;P 500 utilities sector. This was after the Financial Times reported that BlackRock-owned Global Infrastructure Partners was nearing a $38-billion deal to acquire the utility group.

While the materials sector was broadly weaker, Lithium Americas Corp U.S. shares rallied 23.3% and rival Albemarle closed up 4.2%. The U.S. Department of Energy has taken a 5% stake in Lithium Americas and a separate 5% stake in the company's joint venture with General Motors Corteva, said it would separate its seed and pesticide businesses into separate publicly traded companies, sending its shares down 9%.

Advancing issues outnumbered decliners by a 1.92-to-1 ratio on the NYSE where there were 580 new highs and 99 new lows.

On the Nasdaq, 2,707 stocks rose and 2,003 fell as advancing issues outnumbered decliners by a 1.35-to-1 ratio.

The S&amp;P 500 posted 37 new 52-week highs and 7 new lows while the Nasdaq Composite recorded 111 new highs and 68 new lows.

Volume wise, on U.S. exchanges 19.79 billion shares changed hands compared with the 20-day moving average of 18.62 billion.

Wall Street closes higher, boosted by healthcare as investors shrug off jobs data, US shutdown

Wall Street's main stock indexes closed higher on Wednesday, with the biggest boost from the healthcare sector, as investors looked past weaker-than-expected private payrolls data and uncertainty around the first day of the U.S. federal government shutdown.

With the Labor Department's September jobs report expected to be postponed if the government has not reopened by Friday, investors were paying close attention to the ADP National Employment Report.

ADP showed a decline in private payrolls of 32,000 and a downwardly revised 3,000 decline in August. These numbers were weaker than economist forecasts for growth of 50,000 in September and the prior report of a 54,000 advance in August.

Elsewhere in economic data, the Institute for Supply Management showed U.S. manufacturing edged toward recovery in September.

After opening lower, all three main U.S. indexes advanced. Among the S&amp;amp;P 500's 11 major industry sectors, the biggest gainer was S&amp;amp;P 500 healthcare (.SPXHC), opens new tab, boosted by pharmaceutical companies.

The healthcare rally started in earnest on Tuesday after Pfizer (PFE.N), opens new tab and U.S. President Donald Trump said they had cut a deal. The drugmaker agreed to lower prescription drug prices in the Medicaid program - compared to its charges in other developed countries - in exchange for tariff relief. Trump said he expected more drug companies to follow suit.

&quot;Yesterday was the catalyst for healthcare,&quot; said Lara Castleton, U.S. head of portfolio construction and strategy at Janus Henderson Investors, adding that the sector was probably ripe for a rally after underperforming the rest of the market so far this year.

&quot;People have not necessarily been avoiding it, but they have not been as heavily allocated into healthcare as they have been in technology and all the AI hype,&quot; she said.

The Dow Jones Industrial Average rose 43.21 points, or 0.09%, to 46,441.10, the S&amp;amp;P 500 gained 22.74 points, or 0.34%, to 6,711.20 and the Nasdaq Composite gained 95.15 points, or 0.42%, to 22,755.16.

The S&amp;amp;P 500 tech sector provided the second biggest boost for the benchmark index, with Micron rallying 8.9% and the broader Philadelphia chip index adding 2%.

The sector with the biggest percentage decline during the session was materials, which ended the day down more than 1%.

The healthcare sector's biggest gainers were Biogen, up 10.9% and Thermo Fisher, up 9.4%.

Castleton noted that equity investors appeared to be shrugging off uncertainties around the shutdown. Markets have historically been resilient during government closures.

The S&amp;amp;P 500 rose during each of the last six shutdowns, according to a note from Deutsche Bank. During the last government closure between the end of 2018 and the beginning of 2019, indexes were able to advance.

Index performance during the 2018 to 2019 government shutdown

In individual stocks, a 16.8% rally in shares of AES made it the biggest gainer in the benchmark index and a strong boost for the S&amp;amp;P 500 utilities sector. This was after the Financial Times reported that BlackRock-owned Global Infrastructure Partners was nearing a $38-billion deal to acquire the utility group.

While the materials sector was broadly weaker, Lithium Americas Corp U.S. shares rallied 23.3% and rival Albemarle closed up 4.2%. The U.S. Department of Energy has taken a 5% stake in Lithium Americas and a separate 5% stake in the company's joint venture with General Motors Corteva, said it would separate its seed and pesticide businesses into separate publicly traded companies, sending its shares down 9%.

Advancing issues outnumbered decliners by a 1.92-to-1 ratio on the NYSE where there were 580 new highs and 99 new lows.

On the Nasdaq, 2,707 stocks rose and 2,003 fell as advancing issues outnumbered decliners by a 1.35-to-1 ratio.

The S&amp;amp;P 500 posted 37 new 52-week highs and 7 new lows while the Nasdaq Composite recorded 111 new highs and 68 new lows.

Volume wise, on U.S. exchanges 19.79 billion shares changed hands compared with the 20-day moving average of 18.62 billion.

Gains in Wall Street indexes on Friday were not enough to erase a loss for the week while resilient consumer spending supported longer-dated Treasury yields and gold rose as a steady inflation reading supported bets on future Federal Reserve rate cuts.

Consumer spending climbed slightly more than expected in August while the inflation rate rose to 2.7% from 2.6% in July, data showed, in line with economists' expectations.

Analysts said some companies had fended off price pressures by stockpiling in anticipation of tariffs, but some volatility was to be expected ahead of corporate earnings releases in the coming weeks.

"Corporates have been able to withstand (a) tariff hit because they've had inventory build. But the earnings season will become the bigger test because many companies have told us they will start some price increases around the end of the year," said Kevin Gordon, senior investment strategist at Charles Schwab.

The Dow Jones Industrial Average rose 0.65%, the S&amp;P 500 rose 0.59% and the Nasdaq Composite was up 0.44%.

Individual stocks responded to fresh White House tariffs on goods including pharmaceuticals and trucks. Paccar, which makes most of its trucks for the U.S. market domestically, gained 5%, and drugmaker Eli Lilly rose 1.5%.

Richmond Fed Bank President Thomas Barkin told Bloomberg Television he had very low confidence in inflation forecasts, as tariffs continue to impact the economy.
The prospect of a potential government shutdown is also adding uncertainty and could disrupt the data releases that investors follow closely for guidance.

<strong>NOT FALLING OFF A CLIFF</strong>

Friday's personal consumption expenditures index functions as a key component of the Federal Reserve's inflation outlook.

U.S. Treasury yields, which influence borrowing costs, moved little after the data was released.

The yield on benchmark U.S. 10-year notes rose 0.7 basis points to 4.181%, from 4.174% late on Thursday. The 30-year bond yield rose 0.5 basis points to 4.7576% from 4.753% late on Thursday.

"The one bright spot was that income and spending were a little bit firmer than expected, which means the consumer isn't falling off a cliff as the market was expecting," said Gennadiy Goldberg, head of U.S. rates strategy at TD Securities.

Gold, a safe haven which usually benefits from lower interest rates, broadly held on to recent gains. Spot prices were last quoted 0.46% higher at $3,766.25 an ounce.
Investors now estimate an 89.8% probability of a rate cut in October and a 67% chance of another in December, the CME FedWatch Tool shows.

The Fed made its first interest rate cut of the year last week, and signalled further easing was to come. Fed Chair Jerome Powell offered little more direction at a speech on Tuesday, saying the central bank needed to continue balancing, opens new tab the risk of high inflation against a weakening job market.

Oil prices rose as Ukrainian drone attacks on Russia infrastructure cut the major energy producer's exports.

Brent futures settled at $70.13 a barrel, up 71 cents, or 1.02%. U.S. West Texas Intermediate (WTI) crude finished at $65.72 a barrel, gaining 74 cents, or 1.14%.

Wall Street ends streak of weekly gains, yields rise as investors digest data

Gains in Wall Street indexes on Friday were not enough to erase a loss for the week while resilient consumer spending supported longer-dated Treasury yields and gold rose as a steady inflation reading supported bets on future Federal Reserve rate cuts.

Consumer spending climbed slightly more than expected in August while the inflation rate rose to 2.7% from 2.6% in July, data showed, in line with economists' expectations.

Analysts said some companies had fended off price pressures by stockpiling in anticipation of tariffs, but some volatility was to be expected ahead of corporate earnings releases in the coming weeks.

&quot;Corporates have been able to withstand (a) tariff hit because they've had inventory build. But the earnings season will become the bigger test because many companies have told us they will start some price increases around the end of the year,&quot; said Kevin Gordon, senior investment strategist at Charles Schwab.

The Dow Jones Industrial Average rose 0.65%, the S&amp;amp;P 500 rose 0.59% and the Nasdaq Composite was up 0.44%.

Individual stocks responded to fresh White House tariffs on goods including pharmaceuticals and trucks. Paccar, which makes most of its trucks for the U.S. market domestically, gained 5%, and drugmaker Eli Lilly rose 1.5%.

Richmond Fed Bank President Thomas Barkin told Bloomberg Television he had very low confidence in inflation forecasts, as tariffs continue to impact the economy.
The prospect of a potential government shutdown is also adding uncertainty and could disrupt the data releases that investors follow closely for guidance.

NOT FALLING OFF A CLIFF

Friday's personal consumption expenditures index functions as a key component of the Federal Reserve's inflation outlook.

U.S. Treasury yields, which influence borrowing costs, moved little after the data was released.

The yield on benchmark U.S. 10-year notes rose 0.7 basis points to 4.181%, from 4.174% late on Thursday. The 30-year bond yield rose 0.5 basis points to 4.7576% from 4.753% late on Thursday.

&quot;The one bright spot was that income and spending were a little bit firmer than expected, which means the consumer isn't falling off a cliff as the market was expecting,&quot; said Gennadiy Goldberg, head of U.S. rates strategy at TD Securities.

Gold, a safe haven which usually benefits from lower interest rates, broadly held on to recent gains. Spot prices were last quoted 0.46% higher at $3,766.25 an ounce.
Investors now estimate an 89.8% probability of a rate cut in October and a 67% chance of another in December, the CME FedWatch Tool shows.

The Fed made its first interest rate cut of the year last week, and signalled further easing was to come. Fed Chair Jerome Powell offered little more direction at a speech on Tuesday, saying the central bank needed to continue balancing, opens new tab the risk of high inflation against a weakening job market.

Oil prices rose as Ukrainian drone attacks on Russia infrastructure cut the major energy producer's exports.

Brent futures settled at $70.13 a barrel, up 71 cents, or 1.02%. U.S. West Texas Intermediate (WTI) crude finished at $65.72 a barrel, gaining 74 cents, or 1.14%.

Name		Price	Change	Change%
PG	P&G	149.64	2.22	1.51
CAT	Caterpillar	541.27	7.22	1.35
NVDA	Nvidia	181.85	2.02	1.12
KO	Coca-Cola	67.57	0.49	0.73
JNJ	J&J	192.13	0.96	0.50

Name		Price	Change	Change%
V	Visa	335.04	-10.65	-3.08
TRV	Travelers Companies	261.74	-7.71	-2.86
WMT	Walmart	106.28	-2.75	-2.52
NKE	Nike	66.84	-1.62	-2.37
AXP	American Express	323.12	-7.54	-2.28

Name		Price	Market Cap (in billion US $)
NVDA	Nvidia	181.85	4,437.14
MSFT	Microsoft	511.69	3,803.16
AAPL	Apple Inc	247.45	3,740.41
AMZN	Amazon	214.47	2,255.15
JPM	JPMorgan Chase	298.85	860.87

Fund	AUM $	1 Y	3 Y	5 Y	Exp. Ratio
Franklin U.S. Opportunities Equity Active Fund of Funds - Growth	4436.6	11.91%	26.19%	10.85%	1.53
ICICI Prudential US Bluechip Equity Fund - Growth	3344.06	4.93%	20.25%	14.19%	2
ICICI Prudential NASDAQ 100 Index Fund - Direct Plan - Growth	2543.95	29.02%	35.3%	0%	0.61
Bandhan US specific Equity Active FOF - Direct Plan - Growth	366.06	26.16%	30.47%	0%	0.65
Nippon India US Equity Opportunities Fund - Growth	724.35	11.81%	22.56%	13.31%	2.37
Aditya Birla Sun Life US Equity Passive FOF - Direct Plan - Growth	446.5	29.14%	34.45%	0%	0.26
Motilal Oswal Nasdaq 100 ETF (MOFN100)	10804.08	28.56%	33.74%	20.01%	0.58
DSP US Specific Equity Omni FoF - Direct Plan - Growth	1045.41	27.88%	23.73%	18.43%	1.49
Edelweiss US Technology Equity FOF - Growth	3597.55	37.9%	38.51%	16.66%	2.39
Edelweiss US Value Equity Offshore Fund - Regular Plan - Growth	181.51	7.28%	13.74%	14.77%	2.37

US Markets

05:35 Markets After
Dow Jones Futures 45,893.25 -360.06 (-0.78%)

01:29 Markets Closed
Nasdaq 22,562.54 -107.54 (-0.47%)

01:29 Markets Closed
S&P 500 6,629.07 -41.99 (-0.63%)

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US Markets

05:35 Markets After Dow Jones Futures 45,893.25 -360.06 (-0.78%)

01:29 Markets Closed Nasdaq 22,562.54 -107.54 (-0.47%)

01:29 Markets Closed S&P 500 6,629.07 -41.99 (-0.63%)

ADVANCE / DECLINE

05:35 Markets After
Dow Jones Futures 45,893.25 -360.06 (-0.78%)

01:29 Markets Closed
Nasdaq 22,562.54 -107.54 (-0.47%)

01:29 Markets Closed
S&P 500 6,629.07 -41.99 (-0.63%)