NASDAQ and S&P 500 mark biggest monthly gains since November

Most US stock indices closed down on Friday, with Wall Street marking stellar monthly gains overall, boosted by the trade agreement between the US and China, which removed most tariffs temporarily, although that deal is under scrutiny now.

Trump accused China of violating an agreement suspending reciprocal tariffs with the US, adding that he was “too nice” with Beijing.

The US trade representative raised even more concerns when talking about potentially expanding tariffs against China if needed.

Earlier US data showed personal consumption rose 2.5% y/y in April, slowing down from 2.6% in March.

The University of Michigan’s consumer confidence survey fell 24.5% in May from 69.1 in the same month of last year. 

At the close, Dow Jones rose 0.1% to 42,270 points, with a weekly profit of 1.6%, and a monthly profit of 2.3%.

S&P 500 fell 0.1% to 5911 points, with a weekly profit of 1.9%, and a monthly profit of 4%, the biggest since November 2023.

NASDAQ shed 0.3% to 19,113 points, with a weekly profit of 2%, and a monthly profit of 6.3%, also the best since November 2023.