Stocks Surge to Wrap Up a Wild Week; S&P 500 Posts Biggest Weekly Gain Since

These Were the Big S&P 500 Movers on Friday

April 11, 2025 06:52 PM EDT

Advancers

• Shares of power management chipmaker Monolithic Power Systems (MPWR) added 10% on Friday, posting the highest increase of any S&P 500 stock. Before its bounce at the end of the volatile week, Monolithic stock had surged 23% Wednesday after President Trump announced a widespread 90-day tariff suspension, but given back a big portion of those gains on Thursday.
• The price of gold surged to a record high as the uncertainties surrounding global trade helped lift demand for the precious metal, which is often considered a “safe haven” investment. Shares of Newmont (NEM), the world’s largest gold producer, jumped 7.9%.
• Goldman Sachs analysts upgraded shares of military shipbuilder Huntington Ingalls (HII) to “buy” from “sell” and lifted their price target. The double upgrade for the stock came in the wake of an executive order signed by President Trump that could that could boost investments in domestic shipyards, with analysts suggesting that upcoming defense budgets could prioritize the construction of U.S.-made Navy vessels. Huntington Ingalls shares steamed 7.4% higher on Friday.

Decliners

• Texas Instruments (TXN), which manufactures chips in the U.S., posted the S&P 500’s weakest daily performance as shares sank 5.7%. The downturn came after China said chips made by U.S. firms with outsourced manufacturing operations would not be subject to tariffs on U.S. goods. Shares of AI chip leader Nvidia (NVDA), which outsources manufacturing to TSMC (TSM) in Taiwan, gained 3.1% Friday, and TSMC added about 4%.
• Shares of Aptiv (APTV), which provides hardware and software solutions for the automotive industry, fell 3%. RBC Capital cut its price target on Aptiv stock, citing uncertainty around the tariff impacts for automakers. Although Aptiv could benefit in its upcoming earnings report from pre-buying ahead of tariff implementation, analysts believe carmakers and suppliers could scale back or rescind guidance as they adjust to longer-term impacts.
• Old Dominion Freight Line (ODFL) shares lost 2.9% after Jefferies lowered its price target on the transport company’s stock. Analysts pointed to macroeconomic concerns weighing on the industrial outlook and said they expect Old Dominion’s less-than-truckload (LTL) freight volumes to remain below seasonal levels for the next few months.

–Michael Bromberg

Apple Surges Amid Optimism About Possible Tariff Exemption

April 11, 2025 06:40 PM EDT

Apple (AAPL) shares surged Friday amid growing optimism the iPhone maker could win an exemption from the Trump administration’s tariffs. 

Mizuho analyst Jordan Klein reportedly told clients in a client note Friday that “90% of investors seem to believe Apple will get a tariff exemption,” pointing to the exemption Apple received in 2018 during President Trump’s first term.1

CFRA Research analyst Angelo Zino said he now puts the odds of an Apple-specific exemption at 50%, up from 20%.

Apple shares jumped 4% to close at $198.15, posting gains for a week that included steep losses in three sessions and the stock’s best day since 1998.

Still, it has yet to fully recover from the hit taken since President Trump’s tariff announcement on April 2, on worries about escalating trade tensions with China, where Apple manufactures an estimated 90% of its products. 

–Kara Greenberg

Major Indexes Snap Two-Week Losing Streaks

April 11, 2025 05:52 PM EDT

Stocks endured a bumpy ride this week but managed to post solid gains for the week and snap two-week losing streaks.

The Dow Jones Industrial Average rose 5% this week, while the S&P 500 tacked on 5.7% and the Nasdaq Composite added 7.3%. It was just the second time in the past eight weeks that the S&P 500 and Nasdaq have posted weekly gains.

The major indexes are still below where they closed on April 2, just before President Trump announced wide-ranging so-called “reciprocal” tariffs that sparked fears of a recession and sent markets reeling. Trump announced a pause on many of those tariffs this week, which spurred stocks to one of their best days ever on Wednesday.

So far in 2025, the Dow is down 5.5%, while the S&P 500 has given up 8.8% and the Nasdaq is off 13.4%.

Amex Gets Upgrade, Seen as Resilient in a Recession

April 11, 2025 04:41 PM EDT

Analysts from Bank of America on Friday upgraded American Express (AXP) stock to a “buy” rating, saying the credit card provider should be resilient through a potential downturn or recession.

They upgraded the stock, but cut their price target to $274 from $325 to reflect…