Stocks Give Back Some of Their Recent Gains
Wall Street is giving back some of its gains from the week following a mixed set of profit reports from Gap, Ulta Beauty and other companies navigating the challenges created by President Donald Trump’s on-and-off tariffs.
The S&P 500 was down 0.44% in early trading Friday. The Dow Jones Industrial Average ticked down by 39.16 points, or 0.09%, and the Nasdaq composite was down 0.85% as of 10 a.m. EST.
Gap slumped after saying tariffs on imports from China and other countries could add up to $300 million to its costs this fiscal year. Wall Street has been preoccuppied with questions about what will happen with Trump’s tariffs.