On Friday, US benchmark equity indexes were poised for a positive close following the breakdown of discussions between President Donald Trump and Ukrainian President Volodymyr Zelenskyy regarding rare earth minerals. The Dow Jones Industrial Average surged by 0.6%, reaching a new level of 43,486.1. Likewise, the Nasdaq Composite experienced a 0.5% increase, climbing to 18,636.3.
The S&P 500 also posted a 0.6% rise, settling at 5,897.6. This upward trend was observed across all sectors, with financials and energy sectors showing particularly strong gains. However, not all companies thrived in this environment. NetApp saw a significant decline, becoming the worst performer on the S&P 500, with shares plummeting nearly 16% after the company issued a downward revision of its fiscal 2025 outlook on Thursday, raising concerns among investors about its future growth potential. On a more positive note, AES shares witnessed an impressive rally, climbing over 12%.
The company provided an optimistic earnings outlook for the entire year, which followed a strong quarterly performance that exceeded market expectations, bolstering investor confidence in its prospects. In the bond market, the 10-year US Treasury yield experienced a decrease of 6.4 basis points, settling at 4.2%.
The two-year Treasury yield also saw a decline, dropping 8.1 basis points to reach 4%. These movements in yields are closely monitored as they often reflect investor sentiment regarding future economic conditions. Additionally, April West Texas Intermediate crude oil prices faced a minor setback, dropping 0.5% to $69.97 per barrel, reflecting ongoing volatility in the energy market.
Investors are keeping an eye on crude oil prices as they can significantly influence overall market sentiment and economic indicators moving forward..