Overall Market Update
US stock futures remained steady on Friday after President Donald Trump signed a memorandum to review reciprocal tariffs but postponed taking immediate action, while hinting at possible auto tariffs.
This development contributed to a market rally on Thursday, with the Dow gaining 0.77%, and the S&P 500 and Nasdaq Composite climbing 1.04% and 1.5%, respectively.
Investors largely brushed off stronger-than-expected consumer and producer inflation reports for January, maintaining optimism based on expectations for a milder reading of the personal consumption expenditures price index.
Additionally, market participants awaited US retail sales data on Friday to assess the strength of the economy.
Positive corporate earnings reports from major companies, including Applovin (+24%), Robinhood (+14.1%), and Coinbase Global (+8.4%), further fueled the bullish momentum.
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