IXIC: Nasdaq Composite Stands as Only Winner as Stocks Tumble in Final Moments of Trading

Tech-heavy index held onto its 0.3% gain at the close Thursday but weak futures trading didn’t pass it over — here’s what Friday’s session is expected to bring.

😎 Lonely at the Top

• The tech-heavy Nasdaq Composite IXIC held onto a modest 0.3% gain Thursday, standing as the only major US index to close in positive territory after a late-session retreat caught Wall Street off guard.
• The S&P 500 gave up early gains to finish just shy of unchanged, down less than 0.1%, or 2.6 points, while the Dow Jones Industrial Average erased a 200-point intraday jump to close down by a single point.

🎨 Things to Consider Right Now

• Despite the quiet end to the day, futures trading hinted at unease heading into Friday’s session. Some traders were already eyeing the Memorial Day weekend, a time when volumes tend to drop — and volatility can spike unexpectedly.
• This said, stocks and bonds won’t be open for trading on Monday, giving some reprieve to finance bros. But also, forex and crypto will be out and about, pulling moves left and right, up and down.

🏛️ Politics Fueling Those Moves

• Back to what happened yesterday — the bond market was another source of intraday whiplash. Yields spiked early in the session after House Republicans passed the White House’s new tax bill — dubbed a cornerstone of Trump 2.0’s fiscal agenda.
• The 10-year Treasury yield initially pushed higher but cooled into the afternoon, ending at 4.55%. The 30-year yield also slipped to 5.06% after testing 5.15%, offering some breathing room for rate-sensitive stocks.

🧐 What’s Friday’s Trading All About?

• The 10-year Treasury yield initially pushed higher but cooled into the afternoon, ending at 4.55%. The 30-year yield also slipped to 5.06% after testing 5.15%, offering some breathing room for rate-sensitive stocks.
• The muted close suggests traders are in wait-and-see mode. With little in the way of fresh economic data and trade headlines mostly priced in, Friday’s action may be all about positioning ahead of a long weekend (unless, of course, Trump tweets out).

👀 Looking into Next Week… Already?

• While this week’s tape lacked fireworks, there’s still plenty on deck. Investors are bracing for upcoming updates on US-China trade progress, tariff rollbacks, and the impacts of proposed tax extensions.
• Next week’s PCE inflation and GDP numbers could be pivotal — especially for Fed watchers trying to time the next policy shift.