38. Weekly Market Recap: Key Movements & Insights

🔥 Historic Market Rally: Tariff Relief, Strong Jobs, and Tech Earnings Drive Gains

Stocks Rally for Ninth Straight Session as Tariff Hopes, Jobs Data, and Big Tech Earnings Drive Optimism

Since tariff-induced volatility hit a low on April 8, the S&P 500 has surged 14%. This past week alone, the index gained 3%, marking its first nine-day winning streak since November 2004. The Dow also posted its first nine-day run since December 2023, closing up 564 points, or 1.39%, on Friday. The Nasdaq Composite rose 1.51%. While the S&P 500 has erased its losses since President Trump’s “reciprocal” tariffs announcement on April 2, the Dow remains about 2% below its early April level.

Three key factors drove the rally. First, investor sentiment toward tariffs improved as the Trump administration signaled a possible softening of trade policy, with China’s Commerce Ministry stating it is “currently evaluating” U.S. proposals for renewed talks. Second, strong earnings from Microsoft and Meta reassured investors about the resilience of corporate profits, especially in AI. Third, Frida…