US stocks close week on high note, recovering slightly from losses

​​​​​​​By Mucahithan Avcioglu

ISTANBUL (AA) - US stocks ended the week in the green, rebounding from losses most of the week after US President Donald Trump hinted at "flexibility" on reciprocal tariffs.

Trump said Friday that "there will be flexibility" on his reciprocal tariffs plan after he seemed unlikely to allow exemptions.

“People are coming to me and talking about tariffs, and a lot of people are asking me if they could have exceptions,” Trump told reporters in the Oval Office.

He hailed April 2 as America's "liberation day" when his retaliatory tariffs will take effect.

Trump said he expects a full ceasefire in the Russia-Ukraine war "pretty soon."

Meanwhile, the Federal Reserve reported Friday an operating loss of $77.6 billion in 2024, marking the second straight year with a loss.

While investors focused on the Fed's decision to hold the policy rate steady and Chair Jerome Powell's "tariff uncertainty" remarks, stocks fell for most of the week, until Friday.

Trump announced that the US will start the production of the F-47, the world's first 6th generation fighter jet, and said Boeing will produce the aircraft. Boeing shares rose more than 3% after the announcement.

On the other hand, FedEx reported "weakness and uncertainty in the U.S. industrial economy" in an earnings report, which caused the company to drop more than 6%.

Nike was also more than 5% lower following the announcement by the shoe and clothing company that sales this quarter would fall short of projections due to tariffs and waning consumer confidence.

The Dow rose 0.08%, or 32.03 points, to end the week at 41,985.35.

The S&P 500 also ticked up 0.08%, or 4.67 points, to 5,667.56, and the Nasdaq Composite added 0.52%, or 92.42 points, to 17,784.05.

The VIX Index, also known as the “fear index," fell 2.63% to 19.28.