- President Trump smashed the pause button on some of his tariffs before big banks careened into a head-to-head with analysts about their earnings guidance on Friday. The president’s announcement on social media had an immediate impact on markets, with the Nasdaq ending the day up 12%, while the S&P 500 rose more than 9%. Individual stocks climbed: Delta Air Lines lifted 23%, Nvidia rose more than 18%, and Apple, which saw more than $770 billion in value evaporate after concerns about the retail price of iPhones, closed the day up 15%.
Stock markets erupted with a torrential surge of optimism following President Donald Trump’s post on Truth Social pausing some of his tariffs, and comments from Treasury Secretary Scott Bessent reassuring the world that the U.S. is not embroiled in a trade war.
