Wall Street closed its winning week and month with a quiet Friday following a mixed set of profit reports from Gap, Ulta Beauty, and other companies navigating the challenges created by President Trump's on-and-off tariffs.
- The Dow rose 54.34 points, or 0.1%, to 42,270.07, ending the week up 1.6%.
- The S&P 500 fell 0.48 points, or less than 0.1%, to 5,911.69, up 1.9% for the week. It had its best month since November.
- The Nasdaq fell 62.11 points, or 0.4%, to 19,113.77, up 2% for the week.
Gap weighed on the market even though the retailer reported stronger profit and revenue for the latest quarter than analysts expected, the AP reports. The company behind Banana Republic and Old Navy fell 20.2% after saying tariffs on imports from China and other countries could add up to $300 million to its costs this fiscal year. It has strategies set to mitigate up to half of that before it hits profits. Friday's most influential losses came from several Big Tech stocks. Nvidia fell 2.9% to give back some of its gain from earlier in the week after it topped analysts' expectations for profit in the latest quarter. It was the single heaviest weight by far on the S&P 500.
On the winning side of Wall Street was Ulta Beauty, which rose 11.8% after the retailer reported stronger sales and profit than analysts forecast. It also raised the top end of its forecasted range for revenue this fiscal year even though CEO Kecia Steelman called the operating environment "fluid." Costco climbed 3.1% after the retailer's results and revenue for the latest quarter edged past analysts' expectations. Red Robin Gourmet Burger soared 62.9% after reporting a profit for the latest quarter, when analysts expected a loss. (More Wall Street stories.)
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