Stocks closed near where they started Friday following t🌺wo straight days of gains, as i꧋nvestors awaited further developments on tariffs.
The Dow Jones Industrial Average and 澳洲幸运5官方开奖结果体彩网:S&P 500 shed 0.3% and 0.1%, respectively, while the tech-heavy 澳洲幸运5官方开奖结果体彩网:Nasdaq Composite rose fractionally, after the indexes bounced between slight gains and losses throughout the session. Stocks were coming off of a 澳洲幸运5官方开奖结果体彩网:winning session on Thursday after President Donald Trump 澳洲幸运5官方🃏开奖结果体彩网:an♚nounced a trade agreement with the U.K. and indicated that more deals are on the way.
The major indexes posted losses for the week, the first time that's happened in three weeks. The Dow fell 0.2% for the week, while the S&P 500 gave up 0.5% and the Nasdaq retreated 0.3%.
Investors are bracing for news from 澳洲幸运5官方开奖结果体彩网:highly anticipated trade talks that are ⛄scheduled for this weekend in Switzerland between U.S. and Chinese officials. Trump said yesterday that the talks could be "very substantive" and that tariffs on China, which currently stand at 145%, could be lowered if the discussions go well.
Market participants were also keeping tabs today on 澳洲幸运5官方开奖结果体彩网:remarks from several Federal Reserve official🦂s who were speaking at various events. The Fed's 澳洲幸运🦄5官方开奖结果体彩网:policy committee on Wednesday decided to leave its benchmark interest rate unchanged, 澳洲幸运5官方开奖结果体彩网:much to Trump's frustration. Fed Chair Jerome Powell said that tariffs have ♏raised the risks of higher inflation and unemployment, but that the central bank needs 🐈more data on how trade policy is affecting the economy before adjusting monetary policy.
Mega-cap tech stocks were mixed on Friday. Tesla (TSLA) shares rose nearly 5%, sending the EV maker to its 澳洲幸运5官方开奖结果体彩网:third straight week of gains. Microsoft (MSFT), Apple (AAPL), Amazon (AMZN) and Broadcom (AVGO) all inched higher, while Nvidia (NVDA), Alphabet (GOOG) and Meta Platforms (META) were each down less than 1%.
The earnings reporting calendar was relatively light, but a handful of companies made big moves Friday after releasing quarterly results. Social media platform 澳洲幸运5官方开奖结果体彩网:Pinterest (PINS) and cybersecurity provider 澳洲幸运5官方开奖结果体彩网:Cloudflare (NET) climbed 5% and 6.5%, respectively, while travel booking service Expedia (EXPE) dropped 7% to lead S&P 500 decliners, while buy-now, pay-later company Affirm (AFRM) plunged more than 14%.
Bitcoin continued gaining ground after 澳洲幸运5官方开奖结果体彩网:surging above $100,000 on Thursday for the fi🐬rst time since February. The digital currency was at $⛦103,000 in late-afternoon trading, up from an overnight low of $101,300.
Gold futures were up 0.7% at $3,330𝓰 an ounce after two straight days of declines, while West Texas Intermediate futures, the U.S. crude oil benchmark, rose 1.9% to $61.05 per barrel, trading near their highest level of the month after hitting a four-year low last week.
The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of loans, 澳洲幸运5官方开奖结果体彩网:notably mortgages, rose slightly to 4.38%. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was down 0.2% at 100.42, after hitting its highest level in a month during yesterday's session.
Biggest S&P 500 Movers on Friday
Decliners
- Akamai Technologies (AKAM) stock declined nearly 11% after Scotiabank lowered its price target on the cybersecurity and 澳洲幸运5官方开奖结果体彩网:cloud computing company to $105 from $107, with its shares closing just above $76 on Friday.
- Expedia Group (EXPE) shares tumbled more than 7% after the travel booking service delivered 澳洲幸运5官方开奖结果体彩网🐼:worse-than-expected first quarter re𝓀sults and lowered its full-year outlook amid weak U.S. travel demand. CEO Ariane Gorin said the company managed to grow bookings and revenue "despite weaker than expected demand in the U.S."
- TKO Group Holdings (TKO), the parent of World Wrestling Entertainment and Ultimate Fighting Championship, fell 5.5% after its 澳洲幸运5官方开奖结果体彩网🅷:earnings missed analysts' expectations. The company lifted its full-year revenue forecast.
Advancers
- Shares of insulin pump maker Insulet (PODD) surged 21% Friday to pace the S&P 500, after the company repo꧒rted stronger-than-anticipated ❀quarterly results and lifted its full-year revenue outlook. Jefferies analysts lifted their price target on the stock to $360 from $350, suggesting significant upside from the stock's close near $311 Friday.
- Microchip Technology (MCHP) jumped 12.6% after several analysts 澳洲幸运5官方开奖结果体彩网:raised their price targets for the stock on the chipmaker's better-than-expected outlook. While Microchip’s fourth-quarter sales fell 27% year-over-year, analysts were expecting a steeper drop.
- Tesla (TSLA) shares rose 4.7% to post gains for the 澳洲幸运5官方开奖结果体彩网:third straight week amid optimism about new U.S. trade deals. The surge came after a weak start to the week following a string of reports on declining 澳洲幸运5官方开奖结果体彩网:sales in Europe and China.
Lyft Soars on Gross Bookings Surge, Stock Buyback Boost
Lyft (LYFT) shares soared nearly 30% Friday, a day after the ridesharing company topped firs🍰t-quarter🎃 gross bookings estimates and boosted its stock buyback program.
The company said after the bell Thursday t𝔉hat its board approved a new $750 million buyback plan, and e𒀰xpects to use $500 million of it over the next 12 months.
Analysts from UBS, Oppenheimer, and JPMorgan each lifted their price targets by $2 to $14, $17, and $16, respectively, following the report. JPMorgan analysts said they were "encouraged by some of Lyft’s underlying progress, with all-time highs across many metrics" like faster arrival times and the "highest frequency riders in 5 years."
Lyft reported $1.45 billion in first-quarter ꦰrevenue, up 14% year-over-yea🅘r but just below the $1.47 billion analyst consensus compiled by Visible Alpha. Gross bookings and earnings per share topped estimates at $4.16 billion and $0.01, respectively.
Activist investor Engine Capital said Friday it would halt its campaign and revoke its nominees for Lyft's board as they said the new buyback plan comes after a "series of productive conversations."
Lyft forecast gross bookings of $4.41 billion to $4.57 billion for the second quarter, in line with the analyst consensus. CEO David Risher told CNBC Friday morning that the company hasn't seen "anything to worry about” regarding consumer behavior so far this year.
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Lyft shares gained 28% to close Friday's session at $16.65, the highest level since December.
Insulet Soars to Lead S&P 500 Gainers Friday
Shares of Insulet (PODD) skyrocketed Friday to pace the S&P 500, a day after the insulin pump maker reported stronger-than-anticipated quarterly results and lifted its full-year revenue ♓outlook.
After the bell Thursday, Insulet posted first-quarter adjust🐟ed earnings per share of $1.02 on revenue that jumped 30% year-over-year on a constant-currency basis to $569 million. Analysts surveyed by Visible Alpha had anticipated $0.81 and $543.0 million, respectively, while the company had projected revenue to grow by 22% to 25%.2
The Acton, Mass.-based firm raised its constant-cur♌rency 2025 revenue growth outlook to between 19% and 22% from 16% to 20%.
Jefferies analysts lifted their price target on Insulet stock—which had been down close to 2% for this year entering Friday's session—to $360 from $350. "We are encouraged by PODD's execution and continue to view it as a top idea for '25 given a path to robust growth, driven by product differentiation and new indications," they wrote.
Insulet share🔴s surged 21% Friday to finish the week at around $311.
Affirm Drops on Soft Current-Quarter Revenue Outlook
Shares of Affirm Holdings (AFRM) plunged Friday, a day after the provider of 澳洲幸运5官方开奖结果体彩网:buy now, pay later l𒁃oans issued a disappointing current-quarter revenue outlook.🐻
Affirm sees fiscal fourth-quarter revenue between $815 million and $845 million, with the mid🍎point ♊below the Visible Alpha consensus estimate of $843.9 million.
The San Francisco-based company's third-quarter revenue of $783.1 million also came up short. However, Affirm reported profit of a penny per share when a loss of 2 cents per share was expected. Gross merchandise volume that soared 36% year-over-year to $8.6 billion also surpassed projections.
Asked in a CNBC interview Friday morning about the strength of the consumer, Affirm CEO Max Levchin said, "It's pretty good. I think there's a real inconsistency in the vibe, where people are stressed out about the economy yet they're shopping, they're buying, and they're paying their bills—at least they're paying their bills back to us on time."
Affirm shares were down 12% in late trading Friday. The stock has now lost more tha☂n a fifth of its value since the start of the year.
Microchip Rises as Analysts Raise Targets on Strong Outlook
Microchip Technology (MCHP) shares surged Friday after the struggling chipmaker issued a better-than-expected forecast and sev🌼eral analysts raised their price targe🃏ts for the stock.
Shares were up nearly 12% in recent trading n🐈ear $55, though even with Friday’s gains the stock has lost about 40% of its value over the past 12 months.
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The company said it anticipates fiscal first-quarter revenue of $1.02 billion to $1.07 billion and adjusted earnings per share of 18 cents to 26 cents, exceeding analysts' projections compiled by Visible Alpha.
“It looks like the bottom has finally been hit,” Jefferies analysts said following the results, adding, “we see the potential for a sharp snap back in the next couple of quarters” after the company posted a steep revenue decline in the fourth quarter. The analysts maintained a "buy" rating and price target of $70.
Microchip’s fourth-quarter sales fell 27% year-over-year to $970.5 million. While a significant decline, it was less severe than Wall Street expected. CEO Steve Sanghi said the period “marks the♊ bottom of this prolonged industry down cycle for Microchip.”
Citi analysts, who raised their target to $55 from $50, said, “when the economy eventually recovers, Microchip shoulℱd have the strongest bounce in fundamentals given the steep decline in revenue.” Meanwhile, Bank of America raised its target to $56 from $44 and upgrade🅰d the stock to “neutral” from “underperform.
Expedia Slides as US Travel Demand Slumps
Shares of Expedia Group (EXPE) tumbled Friday, a day after the travel platform's first-quarter results came in wors💧e than expected and it lowered its full-year outlook amid weak U.S. demand.
The company behind its namesake travel booking platform and others like Vrbo and Hotels.com reported revenue of $2.99 billion and $31.💮45 billion in total bookings, both up from the same time last year but below whaဣt analysts polled by Visible Alpha had expected.
Expedia posted adjusted earnings per share of $0.40, up 90% year🦄-over-year and better than Visible Alpha consensus,♊ but its reported net loss per share of $1.56 was more than triple the $0.42 that analysts had forecast.
CEO Ariane Gorin said the company managed to grow bookings and revenue "despite weaker than expected demand in the U.S." as consumer sentiment has worsened amid tariff-fueled uncertainty. Gorin added on the earnings call that travel trends continued to be soft through April, and said more European customers appear to be traveling to other locales like Latin America rather than the U.S., according to a transcript provided by AlphaSense.
CFO Scott Schenkel said Expedia projects 2% to 4% bookings growth and 3% to 5% revenue growth in the second quarter, but the company trimmed its full-year forecast for both metrics to 2% to 4% growth from the 4% to 6% rate they laid out in last quarter's earnings call.
Expedia shares were down 8% recently, after fal🍸ling as ♛much as 12% earlier in the session. The stock is now down 16% since the start of the year.
Cloudflare Stock Surges as Revenue Tops Estimates
Cloudflare (NET)ღ shares took off Friday, a day af꧋ter the provider of cloud services beat revenue estimates as it signed a pair of big contracts.
The company reported first-quarter revenue jumped 27% year-over-year to $479.1 million, beating Visible Alpha estimates by about $10 million. However,🐠 adjusted earnings per share of $0.16 came in a penny below forecasts.
CEO and ﷽co-founder Matthew Prince said Cloudflare scored the largest contract in its history, a more than $100 million deal driven by its Workers developer platform. It also signed its longest-term secu൲re access service edge (SASE) contract ever.
Prince added that Cloudflare has "the scale, the technology, and the team to capture the massive opportunity ahead of us."
The company sees full-year adjusted EPS of $0.79 to $0.80, and revenue of $2.090 billion to $2.094 billion. Analysts surveyed 🦩by Visible Alpha were looking for $0.80 and $2.095 billion, respectively.
Shares of Cloudflare were up 7% recently and have gained aboutꦛ 24% since the start of 2025.
Tesla Jumps, on Track for 3rd Straight Week of Gains
Tesla (TSLA) shares jumped Friday, adding to the previous session's soli🅰d gains and putting the stock on track to post gains for th🍬e third consecutive week.
The stock was recently up 5% at around $300, after hitting $307 earlier, its highest price since February. The surge came 𓆏amid optimism about the possibility the U.S. will strike more trade deals after the Trump administration reached an agreement with the U.S. yesterd🤡ay.
The gains for Tesla's stock come after a downbeat start to the week following a string of bad news about declining 澳洲幸运5官方开奖结果体彩网:sales and registrations in several countries 澳洲幸运5官方开奖结果体彩网:across Europe and China. The shares are ⛦still down about 25% sinಞce the start of the year.
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Investors will be looking for updates in the coming weeks on Tesla's plans for its self-driving robotaxis, as the company said in 澳洲幸运5官方开奖结果体彩网:last month's earnings report that it still plans to start offering paid rides in Model Y vehicles in Austinℱ, Texas by the end of next month.
Pinterest Soars as Revenue, User Numbers Top Estimates
Pinterest (PINS) shares soared in early trading Friday, a day after the social media service reporღted first-quarter revenue and global monthly active user figures thౠat topped estimates.
The company posted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.01 on revenue that increased 17% year-over-year on a constant currency basis to $855.0 million. Analysts polled by Visible Alpha projected a loss of a penny per share on revenue of $846.9 million. Adjusted EPS of $0.23 missed estimatesꦓ.
The San Francisco-based firm's monthly active users increased 10% to a record 570 million, beating estimates of 563.4 million.
Pinterest, which has 澳洲幸运5官方开奖结果体彩网:rolled out 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) tools for advertisers, said it expects second-quarter revenue between $960 million and $980 million, which would represent 12% to 15% growth. The midpoint of the range exceeded Visible Alpha consensus oꩲf $964.2 mওillion.
"The fundamentals in the business are strong and we're continuing to see healthy growth," Pinterest CEO Bill Ready said. "Our AI advancements are helping users take action and make more intentional shopping decisions."
Pinterest shares were up 10% in recent trading. The stock entered Friday down 4% ye𝐆ar-to-date.
Stocks Aiming for Third Straight Week of Gains
With stocks on the rise early Friday, major U.S. indexes could be on track to do something that hasn't happened in more than six months.
Entering today's session, the Dow was up slightly for the week, while the S&P 500 and Nasdaq Composite were each down less than half a percent. If they all manage to post gains for the week, it would mark three straight weeks that they have done so, which would be the first time since the first three weeks of October that has happened.
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The recent rally has substantially narrowed the year-to-date declines for the major indexes. Through Thursday's close, the Dow was down 2.8% since the start of 2025, while the S&P 500 and Nasdaq had given up 3.7% and 7.2%, respectively.
Bitcoin Levels to Watch as Cryptocurrency Continues Surging
Bitcoin (BTCUSD) is on the rise again Friday after surging above the 澳洲幸运5官方开奖结果体彩网:closely watched $100,000 le🧔v𝓡el yesterday for the first time since early February.
The legacy cryptocurrency rallied 澳洲幸运5官方开奖结果体彩网:along with stocks after President Donald Trump announced that the 澳洲幸运5官方开奖结🐬果体彩网:U.S. had reached a trade agree꧅ment with the U.K and 澳洲幸运5官方开奖结果体彩网:expressed op༺timism about trade talks with China that are slated to ta🌌ke place this weekend.
Bitcoin’s price had fallen sharply between February and April, weighed down by 澳洲幸运5官方开奖结果体彩网:uncertainty about tariffs and their potential impact on the economy, as well as disappointment with the pace of reforms by the T🦂rump administration to support the crypto industry. With the latest surge, bitcoin is about 40% above last month’s low.
Bitcoin was at $103,100 in recent trading, up from an overnꦡight low of ﷽$101,300.
After reclaiming the 澳洲幸运5官方开奖结果体彩网:200-day moving average last month, bitcoin traded within a narrow consolidation period before yesterday’s strong breakout above the $100,000 mark. The move sets the stage for a potential retest of the cryptocurrency’s 澳洲幸运5官方开奖结果体彩网:record high established at $109,000 in late January.
Meanwhile, the 澳洲幸运5官方开奖结果体彩网:relative strength index confirms bullish price momentum with a reading above the 70 threshold, though the indicator also cautions 澳洲幸运5官方开奖结果体彩网:overbought conditions that could lead to short-term 澳洲幸运5官方开奖结果体彩网:profit-taking.
It’s important to note that 澳洲幸运5官方开奖结果体彩网:trading volumes on Coinbase (COIN), the largest 澳洲幸运5官方开奖结果体彩网:crypto exchange in the United States, have declined since bitcoin’s move higher started in early April, indicating larger market 🍰participants may be sitting out the current rally.
Investors should watch crucial overhead areas on bitcoin's chart around $107,000 and $120,000, while also monitoring key support levels near $100,000 and $92,000.
Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.
Major Index Futures Inch Higher
Futures tied to the Dow Jones Ind🦄ustrial Average were up 0.2%.
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S&P 500 futures rose 0.3%.
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Nasdaq 100 futures also added 0.3%.
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