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Rich Asplund

Stocks Recover Early Losses and Close Higher as Magnificent Seven Stocks Rebound

Nasdaq SP United States US Federal Reserve Donald Trump FedEx Goolsbee Williams Boeing Chicago Fed

The S&P 500 Index ($SPX) (SPY) Friday closed up +0.08%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.39%. June E-mini S&P futures (ESM25) are up +0.08%, and June E-mini Nasdaq futures (NQM25) are up +0.39%.

Stock indexes on Friday recovered from early losses and closed slightly higher as a rally in the Magnificent Seven stocks sparked short covering in the broader market. On Friday, stocks initially moved lower due to underwhelming forecasts from FedEx, Micron Technology, and Nike.

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