Post-Bell | Wall Street Ends Higher. Intel, Tesla, Boeing Jump 4%; AppLovin Gains 5%; Lithium Americas Falls 14%; NIO, Li Auto Drop 6%; CoreWeave down 5%

U.S. stocks ended higher on Friday after mostly in-line U.S. inflation data, but the three major indexes posted losses for the week.

The S&P 500 and Nasdaq snapped three-week streaks of weekly gains.

Market Snapshot

The Dow Jones Industrial Average rose 299.97 points, or 0.65%, to 46,247.29, the S&P 500 gained 38.98 points, or 0.59%, to 6,643.70 and the Nasdaq Composite gained 99.37 points, or 0.44%, to 22,484.07. Tesla Motors up 4%; Lithium Americas Corp. fell 14%; NIO Inc., Li Auto fell 6%; CoreWeave, Inc. fell 5%.

Market Movers

Eli Lilly rose 1.4% following President Donald Trump's announcement late Thursday that pharmaceutical companies would face a 100% tariff on branded or patented drugs unless they are currently building plants in the U.S. Lilly is one of many big pharma companies that lately have announced big investments in U.S. manufacturing. Peers AbbVie, Merck, and Amgen were also saw gains on Friday, while U.S.-listed shares of Danish drugmaker Novo Nordisk fell 0.8%.

Williams-Sonoma rose 0.2%, RH declined 4.2%, and Wayfair rose 2.2%. Trump teased an impending 50% levy on imported kitchen cabinets, bathroom vanities, and associated products, as well as a 30% tariff on upholstered furniture, in a series of social media posts.

Shares of heavy-duty truck maker PACCAR Inc climbed 5.2% after Trump also announced new tariffs on foreign-made heavy-duty trucks. Paccar makes Peterbilt and Kenworth trucks.

Electronic Arts surged 15% after The Wall Street Journal reported, citing people familiar with the matter, that a group of investors were close to a deal to take the videogame publisher private.

Costco was down 2.9%, even after the giant warehouse club reported fiscal fourth-quarter earnings of $5.87 a share, beating analysts' expectations of $5.80. Same-store sales, a key measure of growth at stores open for more than a year, increased 5.7% from last year, but fell short of forecasts that called for an increase of 5.9%.

Intel rose 4.4%. Shares of the chip maker closed up 8.9% on Thursday to $33.99 following a report that Intel had approached Apple asking for an investment. The stock also was getting a lift from a Wall Street Journal report that said Intel had approached Taiwan Semiconductor Manufacturing as well.

Apple, meanwhile, declined 0.6% to $255.46. Analysts at Evercore ISI raised the firm's price target on Apple to $290 from $260 and maintained an Outperform rating on shares of the iPhone maker. Evercore said its annual survey of nearly 4,000 consumers around iPhone purchase intentions "points to what we believe is the start of better-than-expected iPhone refresh cycle, led by a strong lineup of products, particularly at the high-end."

Shares of Oracle fell 2.7% following a 5.6% drop Thursday. Trump signed an executive order to keep social-media platform TikTok alive in the U.S., and confirmed Oracle's Larry Ellison would be involved in the deal. A Wall Street analyst on Thursday cut his recommendation on Oracle to Sell, arguing that investors have been "overestimating the value of Oracle's contracted cloud revenue."

Boeing was up 3.6%. Turkish Airlines agreed to purchase 75 Boeing 787 twin-aisle jets and up to 150 smaller 737 MAX single-aisle jets. Boeing on Thursday also announced a new order for 30 737 MAX jets from Norwegian Group. Separately, the Federal Aviation Administration on Friday said it would delegate the authority for 737 MAX final safety checks back to Boeing, a sign that the company's production system is improving.

AppLovin Corporation gained 4.7% to $669.86 after the company, which provides monetization tools to mobile app developers, received two price-target hikes on Wall Street ahead of the soft launch of its self-serve Axon Ads Manager platform next month. Piper Sandler reiterated an Overweight rating and raised its price target on the stock to $740 from $500, while UBS maintained a Buy rating and boosted its price target on the stock to $810 from $540.

Concentrix Corp tumbled 13% after the customer experience solutions and technology company posted fiscal third-quarter earnings that missed analysts' estimates, and issued a disappointing outlook for the current quarter. The company expects fiscal-year adjusted earnings of between $11.11 and $11.23 a share, down from a previous forecast of between $11.53 and $11.76.

CarMax declined 1.6%. Shares tumbled 20% Thursday to $45.60 following weaker-than-expected quarterly earnings and a sharp decline in same-store unit sales from one of the largest U.S. used-car dealers. Thursday's drop was the stock's largest daily percentage decrease since Sept. 29, 2022, when it fell almost 25%, according to Dow Jones Market Data. It also was the stock's lowest close since March 20, 2020, when it finished at $44.27.

Market News

Intel, GlobalFoundries Gain Ground on Trump's Potential 1-to-1 Chip Rule

Shares of some U.S. semiconductor companies, including Intel and GLOBALFOUNDRIES Inc., gained ground on Friday following reports the Trump Administration is planning a new policy that would require companies to manufacture the same number of chips in the U.S. as their customers import from overseas producers.

This rule would create a 1:1 domestic-to-imported chips ratio.

Intel was up 4%, and GlobalFoundries had jumped 8%. Intel, Micron Technology (MU), GlobalFoundries, TSMC and Samsung Electronics are all building multibillion-dollar U.S. facilities.

Trump Says Microsoft Should Fire Its Global Affairs President Lisa Monaco

U.S. President Donald Trump said on Friday that Microsoft should fire the firm's global affairs president Lisa Monaco, who served in the administrations of past Democratic presidents.

Monaco was a security aide in former president Barack Obama's administration and served as the deputy attorney general in former president Joe Biden's administration. She started working for Microsoft in July to lead the firm's engagements with governments globally, according to her LinkedIn profile.

Trump Mulls Tariffs on Foreign Electronics Based on Number of Chips, Sources Say

The Trump administration is considering imposing tariffs on foreign electronic devices based on the number of chips in each one, according to three people familiar with the matter, as it seeks to drive companies to shift manufacturing to the United States.

According to the plan, which has not previously been reported and could change, the Commerce Department would impose a tariff equal to a percentage of the estimated value of the product's chip content.