The US stock market experienced a volatile trading session with indexes rising at the close on January 30, local time, Anadolu reported.
The Dow Jones Industrial Average rose 0.38%, or 168.61 points, to end the day at 44,882.13. The S&P 500 gained 0.53%, or 31.86 points, to 6,071.17, while the Nasdaq Composite added 0.25%, or 49.43 points, to 19,681.75.
President Donald Trump said he would announce tariffs on Canada and Mexico on February 1, and said the US was also considering tariffs on China.
Following President Trump's announcement, the US dollar index rose to 108.2, while the yield on 10-year US Treasury bonds fell to 4.52%.
On the macroeconomic front, the US economy grew 2.3% in the fourth quarter of 2024, below expectations.
The number of people filing for first-time unemployment benefits across the US fell by 16,000 to 207,000 last week.
Pending home sales in the US also fell 5.5% in December 2024, contrary to expectations that the index would stabilize.
According to Reuters, the uncertainty in the policies of President Donald Trump's administration continues to worry investors.
The deadline to impose 25% tariffs on goods from Mexico and Canada - two of the US's largest trading partners - on February 1 is one of the current concerns.
Reuters noted that while these tariffs may be a negotiating tool, the US government's desire to impose tariffs on foreign imports is still a risk that could increase inflation, overshadow the prospect of interest rate cuts and affect the economy in general.
Fed Chairman Jerome Powell said it was too early to tell what impact President Trump's policies would have, but "we will be watching carefully" the moves being made.
