Trade Updates: Volatile Week With a Strong Finish on Friday
The market closed Friday on a strong note, with the S&P 500 climbing over 2% and broad-based gains driven primarily by Peloton, Oklo, and MicroStrategy. We interpret this robust finish as a positive signal, suggesting the market has largely factored in concerns surrounding the “Trump Card“—the ongoing trade war. Nevertheless, volatility may persist, especially within the materials sector, should China intensify its response by imposing additional export bans on essential raw materials, further disrupting global supply chains.