S&P 500 closes little changed Friday, posts weekly loss amid raft of Trump comments: Live updates

The 3 large averages closed a spot little connected Friday.

The S&P 500 dropped 0.06% to 6,940.01. The Nasdaq Composite besides slipped 0.06%, settling astatine 23,515.39. The Dow Jones Industrial Average declined 83.11 points, oregon 0.17%, to 49,359.33.

— Sean Conlon

Chinese electrical conveyance shaper Nio appears to person an borderline against adjacent automakers successful China, according to Macquarie Equity Research.

Analyst Eugene Hsiao upgraded Nio to outperform from neutral successful a Friday enactment to clients, citing the company's Battery-as-a-Service arsenic a cardinal differentiator, with much than 80% of customers opting to lease the artillery alternatively than acquisition it outright. This exemplary means rising lithium costs could person a little nonstop interaction connected margins for Nio, Hsiao said.

"Volumes stay challenging, but we deliberation NIO is astatine a constituent wherever precocious upfront spending connected artillery swapping and work centers provides an edge. A unsocial BaaS offering provides a beardown alternate to accepted EV ownership; rising Onvo income could supply a lifeline," the expert wrote.

Nio banal show implicit the past year.

Jefferies reiterated its bargain standing connected Nvidia successful a Thursday enactment and raised its terms people to $275 from $250.

Shares of Nvidia person climbed 40% implicit the past 12 months. Jefferies expert Blayne Curtis' revised terms forecast implies that the banal could surge different 47% from here.

NVDA 1Y chart

Curtis applauded Nvidia's Blackwell spot and Rubin spot level arsenic tailwinds for the company.

"Industry checks suggest further upside with beats continuing arsenic Blackwell ramps," helium wrote. "See accrued systems income with the ramp of the Rubin, further expanding the competitory moat."

In the analyst's basal case, helium sees Nvidia remaining the ascendant supplier of acceleration solutions for information centers, portion its gaming full addressable marketplace expands astatine a double-digit compound yearly maturation rate.

— Lisa Kailai Han

Benchmark moved disconnected the sidelines connected Dave & Buster's connected Friday up of what could beryllium its archetypal affirmative same-store income 4th successful years.

Analyst Mike Hickey upgraded shares of the household amusement chain's banal to bargain from hold. Hickey acceptable a $30 terms target, implying a 55.3% summation implicit Thursday's closing level.

Dave & Buster's could spot same-store income maturation for the archetypal clip successful astir 13 quarters, according to Hickey. The expert said that the Dallas-based institution has been improving its nutrient and beverage execution and seeing much postulation from a half-price promotion that launched earlier this month.

Dave & Buster's, 1-day

Small caps person been outperforming to an grade that hasn't been seen successful much than a decade.

The Russell 2000 is connected way to station a amended regular determination than the S&P 500 for an 11th consecutive league connected Friday. That would people the longest specified play since a 13-day streak recorded successful June 2008.

The Russell 2000 has climbed much than 8% successful 2026, portion the S&P 500 has added 1.5%. That marks a crook for small-cap index, which has lagged the broader marketplace implicit the past respective years.

The Russell 2000 vs. S&P 500, twelvemonth to date

In a Friday note, Evercore ISI added a tactical outperform standing to Dollar Tree, meaning it expects the banal to outperform successful the abbreviated term. However, implicit a longer clip skyline the steadfast inactive has an in-line standing connected the stock.

Shares of Dollar Tree person jumped 96% successful the past year. Analyst Michael Montani's terms forecast of $165, up from $125, implies an further upside of 17% from here.

DLTR 1Y chart

Montani said that his condemnation successful Dollar Tree's quality to execute roseate pursuing an Orlando store circuit and heavy dive with CFO Steward Glendinning.

"We spot Dollar Tree's multi-price constituent merchandising strategy arsenic a mode to thrust newness and relevance successful its assortment. A further comp operator is the rollout of enhanced store standards which should summation lawsuit satisfaction, prolong stock summation and heighten borderline performance," the expert wrote.

— Lisa Kailai Han

Check retired immoderate of the companies making headlines successful midday trading:

• Novo Nordisk — The shaper of the Wegovy obesity attraction jumped much than 4% arsenic income of its oral value nonaccomplishment attraction got disconnected to a beardown start. In the archetypal week of its launch, astir 1.3% of Wegovy prescriptions were for the oral version.
• Regions Financial — Shares of the Birmingham, Ala.-based determination slope fell astir 3% aft it reported disappointing fourth-quarter earnings. Regions earned 57 cents per stock excluding items. That was beneath the 61 cents per stock prediction from analysts surveyed by FactSet.
• Energy stocks — The Trump medication is pushing for exertion companies to bankroll powerfulness plants amid a emergence successful energy-guzzling information centers. Companies tied to electrical inferior infrastructure rose, including GE Vernova and Bloom Energy, which some gained astir 6%, and Quanta Services, which precocious astir 5%. Independent powerfulness producers, however, tumbled, with Constellation Energy dropping astir 10% and Vistra falling 7%.

Read here for the afloat list.

— Christina Cheddar Berk, Liz Napolitano

Federal Reserve Governor Michelle Bowman connected Friday indicated that determination is country up for much involvement complaint cuts arsenic the cardinal slope should prioritize getting up of imaginable weakness successful the labour market.

Speaking astatine an economical forum successful Foxborough, Mass., the policymaker advocated a forward-looking attack based connected "informed" forecasts alternatively than the solely data-dependent argumentation galore of her chap officials back.

"Absent a wide and sustained betterment successful labour marketplace conditions, we should stay acceptable to set argumentation to bring it person to neutral," Bowman said. "We should besides debar signaling that we volition intermission without identifying that conditions person changed. Doing truthful volition bespeak that we are not attentive oregon responsive to the caller and expected way of the labour market."

The cardinal slope authoritative added that she sees ostentation "on a sustained trajectory" to the Fed's 2% extremity countered by "growing labour marketplace fragility" that the Fed should caput determination to "preemptively stabilize."

Bowman is nether information for to instrumentality implicit the seat presumption erstwhile Jerome Powell's word expires successful May, though prediction markets complaint her to beryllium an utmost longshot.

— Jeff Cox

Former Federal Reserve Governor Kevin Warsh connected Friday vaulted to the beforehand of the battalion successful the contention for cardinal slope seat pursuing remarks from President Donald Trump, according to a intimately watched prediction market.

Traders connected Kalshi pushed Warsh good up of the idiosyncratic seen arsenic his closest competitor, National Economic Council Director Kevin Hassett.

In remarks delivered Friday morning, Trump, without explicitly stating his decision, said he'd similar to support Hassett successful his presumption arsenic apical economical advisor.

"I spot Kevin's successful the audience, and I conscionable privation to convey you. You ⁠were fantastic connected tv today," Trump said during remarks successful the White House. "I really privation to support you wherever you are, if you privation to cognize the truth." Read more.

— Jeff Cox

Novo Nordisk is seeing beardown request for its oral obesity attraction successful its archetypal week of sales, sending the banal up much than 4% successful trading connected Friday. That brings the drugmaker's year-to-date gains to astir 18%, marking a large turnaround successful the stock's performance.

Shares stay down 27% implicit the past 12 months arsenic Novo Nordisk mislaid immoderate of its first-mover vantage to Eli Lilly, which markets rival value nonaccomplishment cause Zepbound.

Evercore ISI expert Umer Raffat said Novo's value nonaccomplishment pill accounted for astir 1.3% of each Wegovy prescriptions successful its precise archetypal week of launch. Raffat said that demand, which came during a vacation week, bodes good for not lone Novo Nordisk but besides for Eli Lilly, which hopes to bring its ain oral obesity cause to marketplace successful April.

Novo Nordisk shares implicit the past 3 months.

Bank of America Securities downgraded ConocoPhillips to underperform from neutral connected Tuesday, saying it sees amended opportunities elsewhere.

ConocoPhillips's lipid breakeven is $53 U.S. West Texas Intermediate, which is materially higher than different lipid and state names, expert Kalei Akamine said successful a enactment to clients. An lipid breakeven terms is fundamentally the minimum terms a institution needs to screen its costs. In addition, the company's debt-adjusted escaped currency travel output is an uncompetitive 4.4%, helium said.

"These headwinds are being driven successful portion by long-cycle spending connected Port Arthur LNG and Willow, with start-up inactive 2 and 4 years away, respectively," Akamine wrote. "At our forecast of $57 WTI, we bash not judge COP tin prolong its caller gait of returning 45% of currency flow."

At the aforesaid time, Akamine upgraded Magnolia Oil & Gas to bargain connected the spot of its lipid breakeven terms of $37. He besides said determination is "the imaginable for a stronger‑than‑expected lipid usher driven by what we presumption arsenic coagulated operating momentum exiting 4Q25."

Akamine raised his terms people to $28 from $26, implying 24.5% upside from Thursday's close.

— Michelle Fox

Despite the aboriginal gains astatine the scale level, the fig of declining stocks was greater than those advancing. FactSet information showed 1,590 New York Stock Exchange-listed names were lower, portion astir 850 were higher.

— Fred Imbert

Bank of America has maintained its bargain standing connected Delta Air Lines, contempt the hose issuing much blimpish guidance earlier this week.

On Tuesday, the hose revised its net guidance to $6.50-$7.50 per stock for 2026, oregon beneath the Street's statement estimation of astir $7.30, according to a Bank of America enactment to clients dated Friday.

However, analysts shook disconnected the downward revision pursuing a telephone with investors and Delta CFO Dan Janki this week. They stressed that the firm's beardown currency procreation and absorption connected premium question are reasons to stay bullish connected the stock.

"The telephone reinforced our thesis that DAL is simply a cardinal structural person successful the hose manufacture fixed its premium gross focus, beardown currency generation, debased leverage, and diversified gross streams (loyalty, MRO)," expert Andrew Didora said successful the note.

He added that Delta "remains affirmative connected fundamentals," arsenic its customers, peculiarly clients that opt for its premium services, beryllium resilient to rising macroeconomic volatility.

— Liz Napolitano

Here are immoderate of the stocks moving earlier the bell:

ImmunityBio — The biotech institution rallied 22%, adding to a 30% rally successful the erstwhile league that was sparked by beardown guidance for its bladder crab cause Anktiva. ImmunityBio expects full-year gross for the cause to leap 700%.

Coupang — Shares roseate much than 3% aft Deutsche Bank upgraded the Korean retail giant to buy, saying astir of the regulatory uncertainty has been priced in.

PNC — The slope roseate 3% aft posting better-than-expected fourth-quarter results and promising guidance. PNC reported gross of $5.96 cardinal versus an LSEG statement estimation of $5.89 billion. Earnings of $4.88 per stock besides exceeded a forecast of $4.22 per share. PNC besides enactment its full gross maturation by the extremity of 2026 astatine astir 11%, topping the 8.7% estimated by analysts.

Read much here.

— Liz Napolitano

Equinor has been cleared by a justice successful the U.S. District Court for the District of Columbia to resume enactment connected its Empire Wind project, which stopped astatine the extremity of past twelvemonth erstwhile the Trump medication halted 5 large offshore upwind developments.

Equinor's stock terms was past seen 0.36% higher.

 — Tasmin Lockwood

European stocks were somewhat little connected Friday arsenic investors proceed to show geopolitical tensions.

The pan-European Stoxx 600 was 0.2% little astatine 8:50 a.m. (3:50 a.m. ET), with large bourses and astir sectors successful antagonistic territory.

— Tasmin Lockwood

Shares of J.B. Hunt Transport Services dropped 4% successful extended trading Thursday aft the logistics institution reported a 2% diminution successful fourth-quarter gross connected a year-over-year basis. Its last mile services gross fell, "driven by wide brushed request crossed galore of the extremity markets served and a alteration successful mix," absorption said.

J.B. Hunt inactive bushed Wall Street's net forecast. The institution reported net of $1.90 per share, portion analysts polled by LSEG expected net of $1.81 per share. Revenue of $3.10 cardinal matched statement expectations, according to LSEG.

J.B. Hunt banal show implicit the past year.

Shares of J.B. Hunt roseate 0.3% during Thursday's regular session, reaching a caller 52-week high. The banal is up astir 6.3% this year.

— Pia Singh