US close: Stocks rise as Trump's tariffs come into force
By Iain Gilbert
Date: Friday 08 Aug 2025
(Sharecast News) - Major indices closed higher on Friday as stocks reclaimed most of yesterday's losses.
At the close, the Dow Jones Industrial Average was up 0.47% at 44,175.61, while the S&P 500 advanced 0.78% to 6,389.45 and the Nasdaq Composite saw out the session 0.98% firmer at 21,450.02.
The Dow closed 206.97 points higher on Friday, all but reversing losses recorded in the previous session and putting major indices on course for a winning week.
Stocks traded higher on Friday as Donald Trump's so-called "reciprocal" tariffs took effect at midnight on Thursday. Syria was the hardest hit nation, with a 41% import duty, while the likes of Laos and Myanmar were slapped with a 40% tariff rate.
US gold futures also hit a fresh record high on Friday after a Financial Times report revealed the White House has slapped duties on imports of 1kg gold bars.
Also making headlines, Trump named Stephen Miran, current chair of the Council of Economic Advisors, as his nominee to fill the vacant seat on the Federal Reserve Board of Governors. Miran will complete the remainder of Adriana Kugler's term, which runs through January, following her resignation last week.
In the corporate space, shares in sportswear group Under Armour slumped after it warned that Q2 revenues would fall short of estimates as it continued to battle muted demand in North America due to persistently high inflation and macro uncertainty linked to Trump's ongoing tariff wars, while AMC Networks said streaming revenue had risen 12% in Q2, but also revealed US ad sales had dropped 18%, and fast food restaurant Wendy's said operating profits had risen 4.8% in Q2 despite reporting a decline of 1.8% in global systemwide sales to $3.7bn
No major macro points were released on Friday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Apple Inc. (AAPL) $229.35 5.46%
Cisco Systems Inc. (CSCO) $71.79 2.97%
Unitedhealth Group Inc. (UNH) $250.89 2.54%
Visa Inc. (V) $336.78 1.41%
Chevron Corp. (CVX) $155.01 1.21%
Johnson & Johnson (JNJ) $173.33 1.05%
3M Co. (MMM) $153.30 1.03%
American Express Co. (AXP) $297.43 0.92%
Walgreens Boots Alliance, Inc. (WBA) $11.94 0.80%
Boeing Co. (BA) $229.12 0.79%
Dow Jones - Fallers
International Business Machines Corporation (CDI) (IBM) $242.27 -3.15%
Dow Chemical Co. (DOW) $21.22 -1.80%
Microsoft Corp. (MSFT) $522.04 -1.03%
McDonald's Corp. (MCD) $305.45 -0.80%
Intel Corp. (INTC) $19.95 -0.60%
Walt Disney Co. (DIS) $112.43 -0.40%
Nike Inc. (NKE) $74.19 -0.22%
Travelers Company Inc. (TRV) $264.87 -0.18%
Salesforce.Com Inc. (CRM) $240.51 -0.15%
Caterpillar Inc. (CAT) $416.52 -0.14%
S&P 500 - Risers
TripAdvisor Inc. (TRIP) $17.97 8.51%
Helmerich & Payne Inc. (HP) $17.29 8.20%
Gilead Sciences Inc. (GILD) $119.41 8.07%
Monster Beverage Corp (MNST) $64.69 7.92%
Albemarle Corp. (ALB) $75.48 7.74%
Expedia Group Inc. (EXPE) $195.26 5.95%
Gen Digital Inc. (GEN) $30.45 5.55%
Apple Inc. (AAPL) $229.35 5.46%
Micron Technology Inc. (MU) $118.89 4.31%
Humana Inc. (HUM) $266.68 4.11%
S&P 500 - Fallers
Under Armour Inc. Class A (UAA) $5.44 -18.07%
Under Armour, Inc. (UA) $5.19 -17.22%
Microchip Technology Inc. (MCHP) $61.87 -9.03%
Akamai Technologies Inc. (AKAM) $70.53 -6.51%
DENTSPLY Sirona Inc. (XRAY) $12.96 -5.92%
Brighthouse Financial, Inc. (BHF) $44.52 -5.61%
News Corp Class B (NWS) $32.95 -5.53%
Fluor Corp. (FLR) $41.89 -5.08%
News Corp Class A (NWSA) $28.52 -5.08%
Autodesk Inc. (ADSK) $290.68 -4.88%
Nasdaq 100 - Risers
Qvc Group Inc Series A (QVCGA) $4.16 31.60%
Gilead Sciences Inc. (GILD) $119.41 8.07%
Monster Beverage Corp (MNST) $64.69 7.92%
Expedia Group Inc. (EXPE) $195.26 5.95%
Gen Digital Inc. (GEN) $30.45 5.55%
Apple Inc. (AAPL) $229.35 5.46%
Micron Technology Inc. (MU) $118.89 4.31%
Skyworks Solutions Inc. (SWKS) $71.08 3.96%
Idexx Laboratories Inc. (IDXX) $658.06 3.92%
Seagate Technology Plc (STX) $150.45 3.41%
Nasdaq 100 - Fallers
Microchip Technology Inc. (MCHP) $61.87 -9.03%
Trip.com Group Limited (TCOM) $58.80 -6.22%
DENTSPLY Sirona Inc. (XRAY) $12.96 -5.92%
Biomarin Pharmaceutical Inc. (BMRN) $57.33 -5.87%
Autodesk Inc. (ADSK) $290.68 -4.88%
Vertex Pharmaceuticals Inc. (VRTX) $366.54 -4.59%
Take-Two Interactive Software Inc. (TTWO) $217.37 -4.46%
Intuit Inc. (INTU) $749.00 -4.41%
Workday, Inc. (WDAY) $222.07 -4.38%
J.B. Hunt Transport Services Inc. (JBHT) $139.44 -3.50%
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