S&P 500 rises, tries to extend winning streak to five days: Live updates

The rose Friday after posting a four-day rally in the prior session on the back of U.S. and China's temporary tariff cuts and encouraging inflation reports.

The broad market index traded 0.1% higher, while the advanced 0.2%. The slipped 74 points, or 0.2%.

Stocks have made a strong comeback since U.S. and Chinese officials earlier this week agreed on a 90-day truce in their tariff measures, which eased investors' fears of escalating global trade tensions and rising risk to the economy.

Week to date, the S&P 500 is up 4.5%, and the Dow has gained 2.6%. The Nasdaq Composite has jumped more than 6% this week. Both the S&P 500 and Dow closed higher on Thursday, while the Nasdaq fell slightly.

Thursday "was just a continuation of what we've seen over the past few days, this sigh of relief in response to the U.S. bringing down tariff rates on China," said Callie Cox, chief market strategist at Ritholtz Wealth Management. "There's still this big question about what tariffs could mean for the economy, and right now investors are looking for that center of gravity and assessing the economic damage. But at the moment, it seems like moves are driving markets in the absence of any signals coming out of economic data."

Stocks got a boost Thursday from a soft inflation report, showing that wholesale prices declined 0.5% in April from the prior month. The result follows the release of April's earlier this week, which grew at a 12-month rate of 2.3%, its lowest since February 2021.

Even as the temporary agreement between the U.S. and China has lifted sentiment this week, some major U.S. companies are issuing warnings about rising costs and a murky macroeconomic outlook. Walmart said on Thursday that it will likely in late May due to tariffs.

"That concern didn't make its way into markets that was overshadowed by this tech-led sigh of relief from the tariff news that we got Monday, but there is an undercurrent of anxiety," Cox said of the Walmart warning. "We're getting these little signs of tariff impact that haven't really overwhelmed investors' attention yet, but could could be indicative of cracks forming underneath the surface."

Friday could see an uptick in volatility on Wall Street due to a that are set to expire. Goldman Sachs estimated that more than $2.8 trillion of notional options exposure will expire on Friday, the biggest such number on record for a May trading day.

S&P 500 opens higher

The S&P 500 opened marginally higher on Friday, as investors look to push Wall Street's winning streak to a full five sessions.

The broad market index advanced 0.1%, while the Nasdaq Composite climbed 0.2%. The Dow Jones Industrial Average ticked down 16 points, or 0.04%.

— Brian Evans

Vistra Corp. jumps after buying natural gas facilities

jumped more than 3% premarket after the independent power company bought seven natural gas facilities from Lotus Infrastructure Partners for $1.9 billion.

The gas plants are located in the PJM market, New England, New York and California. The deal diversifies Vistra's natural gas fleet and will add 4% to the company's earnings before interest, tax, depreciation and amortization, according to Morgan Stanley.

PJM is the largest grid in the U.S. and serves the biggest data center markets in the nation.

— Spencer Kimball

Stocks making the biggest moves before the bell: Charter Communications, Doximity and more

These are the stocks moving the most in premarket trading:

•  — The cable stock rose 7% after Charter agreed to .
•  — The stock tumbled 19% after the health-care platform issued disappointing guidance.
•  — The pharmaceutical stock slipped 5% after CEO Lars Fruergaard Jørgensen announced he would , citing recent market challenges.

Read the full list of stocks moving .

— Lisa Kailai Han

Charter stock climbs after announcing merger deal with Cox

has with privately held Cox Communications in what would be a major step toward consolidation in the cable industry.

The deal puts the enterprise value of Cox at $34.5 billion, with an equity value of $21.9 billion. Shares of Charter rose more than 6% in premarket trading.

The combined company would eventually be known as Cox Communications, according to the . Charter CEO Chris Winfrey will continue in that role, while Cox CEO Alex Taylor will become chairman of the new firm.

— Jesse Pound

Novo Nordisk announces CEO change, shares slide

announced that CEO Lars Fruergaard Jørgensen is . The move follows a period where the company's share price has struggled as the Wegovy-maker has faced increased competition in the obesity drug market.

The share price of Novo Nordisk has been cut in half over the past year. The stock was under pressure again in premarket trading Friday, falling more than 3%.

The exact timing of Jørgensen's exit is not clear. The company said he will "continue as CEO for a period to support a smooth transition to new leadership" and that a search for a new CEO is ongoing.

— Jesse Pound

The Federal Reserve will have enough soft economic data to cut interest rates in the next few months, says UBS

The Federal Reserve could already be gearing up to begin cutting interest rates in the near-term, according to UBS.

"While we believe the U.S. could avoid a full-blown recession this year, slowing growth and a weakening labor market should allow the US central bank to resume cutting interest rates in the coming months," UBS global wealth management chief investment officer Solita Marcelli wrote on Friday. "Our base case is for 100 basis points of further easing starting in September."

— Brian Evans

Constellation Brands pops on increased Buffett stake

shares popped 3% in the premarket after Warren Buffett's Berkshire Hathaway doubled its stake in the beer importer. The position is now worth .

— Fred Imbert

Walmart’s former U.S. CEO thinks retailer can easily absorb tariff costs

Retail giant is poised to manage headwinds from tariffs, according to Bill Simon, the company's former U.S. CEO.

Simon spoke to C온라인카지노사이트's "Fast Money" about the company's move as soon as later this month due to tariffs.

"If you look down deep and dig into the details of their earnings release today, you know this quarter they grew their gross profit margin in the U.S. business 25 basis points. So they're expanding their margin. They also reported their general merchandise categories were flattish because they had mid-single digit price deflation," Simon said.

"That sort of gives them room in my view to manage any tariff impact that they would have," he added.

–Darla Mercado

Stock futures open little changed

U.S. equity futures opened little changed Thursday night.

added 40 points, or 0.09%. slipped 0.02%, while futures inched down 0.07%.

— Tanaya Macheel