Yields across government bonds slipped for a second straight day after data showed U.S. retail sales fell more than expected in January, dropping 0.9% last month after an upwardly revised 0.7% increase in December.
The yield on the 10-year note fell about 7 basis points, last at 4.44%.
The Nasdaq 100, which is made up of the Nasdaq exchange’s most valuable companies, rose 0.4% and notched a record-high close.
Nvidia added 2.6%, while Apple moved 1.3% higher. Microsoft dipped about 0.5% and Amazon slid 0.7%.
Trump tasked his economics team on Thursday to devise plans for reciprocal tariffs on every country taxing U.S. imports, although the directive stopped short of imposing fresh tariffs. Howard Lutnick, Trump’s pick for commerce secretary, said the administration would address affected countries individually and said studies of the issue would be completed by April 1. The imposition of tariffs on steel and aluminum imports, a bigger-than-expected rise in January’s consumer prices and hawkish comments from Federal Reserve Chair Jerome Powell added to market volatility this week.
“It’s all about Trump right now. All the other stuff is just noise,” said Dennis Dick, a trader at Triple D Trading in Ontario, Canada. “What everyone is focused on is, ‘What is Trump going to do next, and where are his tariff wars going?'”
Stocks received a boost earlier this week after data showed U.S. producer prices increased in January, while key elements in the core Personal Consumption Expenditures index, a measure closely tracked by the Fed, were benign or lower.
Traders are pricing in at least one 25 basis-point interest rate cut by the end of the year, with a roughly 50% chance of an additional cut, according to LSEG data.
The S&P 500 edged down 0.01% to end the session at 6,114.63 points.
The Nasdaq gained 0.41% to 20,026.77 points, while the Dow Jones Industrial Average declined 0.37% to 44,546.08 points.
Of the 11 S&P 500 sector indexes, seven declined, led lower by consumer staples, down 1.16%, followed by a 1.11% loss in healthcare.
Volume on U.S. exchanges was relatively light, with 14.4 billion shares traded, compared with an average of 15.0 billion shares over the previous 20 sessions.
For the week, the S&P 500 rose 1.5%, while the Nasdaq gained 2.6% and the Dow added 0.5%.
Airbnb jumped 14% after the vacation home rentals company posted higher quarterly revenue.
DaVita dropped 11% after the dialysis firm projected annual profit below estimates. Warren Buffett’s Berkshire Hathaway also sold some of its shares in the company.
Applied Materials fell 8% after the chipmaking equipment maker forecast second-quarter revenue below estimates.
U.S. markets will be closed on Monday for the Presidents Day holiday.
Declining stocks outnumbered rising ones within the S&P 500 by a 1.3-to-one ratio.
The S&P 500 posted 37 new highs and 7 new lows; the Nasdaq recorded 131 new highs and 83 new lows.
