US stock indices rose during Friday trading as markets closely tracked the latest developments in trade negotiations between the United States and its partners.
Late Wednesday, former President Donald Trump announced a 100% tariff on imported chips, with an exception for companies that “manufacture within the United States.”
Trump explained on Wednesday: “We will impose very large tariffs on chips and semiconductors. But the good news for companies like Apple is: if you manufacture in the United States or have firmly committed to doing so, you won’t be subject to any tariffs.”
A report from Bloomberg, citing informed sources, stated that Federal Reserve Governor Christopher Waller has emerged as a leading candidate to succeed the current Fed Chair.
As for trading, by 17:30 GMT the Dow Jones Industrial Average was up 0.5% (215 points) to 44,183, while the broader S&P 500 index rose 0.7% (48 points) to 6,388. The tech-heavy Nasdaq Composite gained 0.9% (187 points) to reach 21,430.
