U.S. equities closed the week on a positive note, with the Nasdaq Composite leading by gaining 2.58%. Growth stocks outperformed value stocks for the second time this year, while small-cap stocks lagged. President Trump’s announcement about tariff negotiations eased investor concerns. Meanwhile, inflation data revealed a slight rise in the Consumer Price Index, indicating persistent inflation risks, which prompted a shift in rate cut expectations to December. European markets also performed well, spurred by optimism regarding the Ukraine-Russia conflict and strong corporate earnings, while the UK economy showed unexpected growth.
Investors welcomed President Donald Trump's announcement that the administration would not immediately impose new global tariffs, favoring negotiation over blanket tariffs.
Federal Reserve Chair Jerome Powell underscored the need for continued restrictive policy due to inflation remaining above target, resulting in a shift in market expectations.
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