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Market Update: Why are stocks up on Friday?

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We take a look at why stocks are up on Friday with our latest market update.

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The stock market has been going through a difficult period in recent weeks. This is the result of growing investor concerns about rising inflation and the Federal Reserve’s plans to raise interest rates.

However, things are finally looking up, both the S&P500 and the Nasdaq Compound go higher today. So why exactly are stocks up on Friday? Much of it is related to Apple (NASDAQ:AAPL)

The tech giant released its earnings report for its fiscal first quarter of 2022. The results delighted investors with revenue up 11% year-over-year. On top of that, CEO Tim Cook said supply chain issues are starting to resolve.

One of the biggest factors that has affected the US economy over the past year is supply chain issues. This caused delays for just about everything. The main ones are computer chips, which are used by various technology companies, as well as the automotive industry. According to recent estimates, this shortage will end by the middle of the year.

Of course, the Covid-19 Omicron has yet to be dealt with, but it’s not hitting the markets as hard as expected. Earlier this week, airline stocks jumped on rumors that travel trends would start to recover as the year progressed. This is a good sign for the market as it means customers are not afraid to travel due to the latest variant of coronavirus.

The S&P 500 is up 1.2% and the Nasdaq Compositive is up 1.7% on Friday afternoon.

Investors who want to dive deeper into the state of the stock market today will want to stick around!

We have all the latest market coverage traders need to know for Friday. Among this is To assert (NASDAQ:AFRM) stock price predictions, why steel stocks are up today, as well as details of the recent Knightscope (NASDAQ:KSCP) initial public offering (IPO). You can find all this information on the following links!

More stock market news for Friday

As of the date of publication, William White had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

Market Update: Why are stocks up on Friday?

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