Global Markets – Nasdaq Hits Record Highs as US Markets Shake Off Tariff Turbulence

The U.S. stock market experienced notable volatility but ended the week positively with strong technology sector performance and earnings optimism driving gains. President Trump’s imposition of hefty tariffs on dozens of countries and a weaker-than-expected jobs report triggered concerns over economic growth. However, markets recovered steadily, helped by strong quarterly earnings and lower volatility levels compared to earlier months.

Technology stocks such as Nvidia and Apple led the rally, with Nvidia benefiting from renewed sales to China and Apple announcing significant domestic investment. By the end of the week, the Nasdaq hit record closing highs for two consecutive days, surging on tech gains and optimism about potential interest rate cuts.

Another area of focus was on the seemingly increasing likelihood of the Federal Reserve lowering interest rates at its next meeting in September. Several Fed officials made comments during the week suggesting rate cuts could be in September. U.S. Treasuries posted negative returns for the week as yields across most maturities fluctuated but ultimately ended higher than the prior week. The Dow Jones advanced 1.3% for the week, the S&P 500 gained 2.4% and the Nasdaq rallied 3.9%.

Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest. To get any error corrected, please write to content@hdfcsec.com.

 Source: HDFC Securities Prime Research