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Key Takeaways
- The S&P 500 added 1.8% on Friday, April 11, 2025, closing out a turbulent week for the stock market as investors reacted to the latest announcements on tariffs.
- The price of gold climbed to another record high, lifted by demand for "safe haven" assets, and shares of miner Newmont surged.
- Texas Instruments (which manufactures in the U.S.) posted the lowest performance in Friday’s index after China said that American chipmakers which outsource their manufacturing outside of the U.S. will not be subjected any tariffs on U.S. products.
The major U.S. stock indexes rose on Friday, capping off a turbulent week in the stock market. Investors responded to the latest tariff announcements. After fluctuating for much of the trading day, the S&P 500 rallied in the afternoon to close 1.8% higher. The Dow added 1,6%, and Nasdaq gained 2,1%.
Shares of power management chipmaker Monolithic Power Systems (MPWR) added 10% on Friday, posting the highest increase of any S&P 500 stock. Monolithic shares had risen 23% after President Trump’s announcement of a 90-day tariff suspension on Wednesday, but they gave back much of those gains by Thursday.
Gold’s price has reached a new record high. The uncertainty surrounding global trade has helped boost demand for gold, which is often seen as a safe investment. Shares of Newmont(NEM), the largest gold producer in the world, soared 7.9%.
Goldman Sachs analysts raised their price target and upgraded shares of military vessel builder Huntington Ingalls from “sell” to “buy”. The stock was upgraded twice after President Trump signed an executive order that could boost investment in domestic shipyards. Analysts also suggested that upcoming defense budgets may prioritize the construction of U.S. Navy vessels. Huntington Ingalls’ shares surged 7.4% higher on the Friday.
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 decline came after China announced that chips made by U.S. companies with outsourced manufacturing operations will not be subjected to tariffs on U.S. products. Shares of AI chip maker Nvidia (NVDA), who outsources manufacturing operations to TSMC (TSM), in Taiwan, increased by 3.1% on Friday. TSMC gained about 4%.
Shares of Aptiv, which provides automotive hardware and software solutions, fell 3%. RBC Capital reduced its price target on Aptiv, citing uncertainty about the tariff impact for automakers. Aptiv’s upcoming earnings report could benefit from pre-buying in advance of tariff implementation. However, analysts believe that carmakers and suppliers may scale back or rescind their guidance as they adjust to the longer-term effects.
Old Dominion Freight Line shares fell 2.9% after Jefferies lowered their price target for the transport company. Analysts cited macroeconomic concerns as a factor affecting the industrial outlook, and said that they expect Old Dominion’s less-than truckload (LTL freight) volumes to remain below seasonally-based levels for the next several months.
