Stocks cap a losing month with a rally

^GSPC) gained 1.6%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 1.5% after suffering a Nvidia-led (NVDA) sell-off on Thursday.

The tech-heavy Nasdaq Composite (NASDAQ:IXIC) was up about 1.5% by noon Friday after suffering an Nvidia-led (NASDAQ:NVDA) sell-off on Thursday. The Dow Jones Industrial Average (NYSE:DJI) climbed 1.3%, and the broader Standard & Poor's 500 (NYSE:GSPC) gained 1.6%. All three major averages were attempting to reverse earlier losses, sending February off with a relief rally.

Also in the thralls of a relief rally were Bitcoin prices, which dropped as much as 7% on Friday to $78,495 as investors digested rising fears of a recession and the looming tariffs by the Trump administration. BTC-USD) had slid to its lowest level since November and was down 25% from its record high amid a broader crypto rout.

"The tides are turning in the crypto markets, and we're now seeing altcoins, such as Bitcoin, being valued down to zero by incumbents, which is no surprise given the administration's focus on rolling back globalization and the new deal era institutions that were largely funded and focused on diversity, equity and inclusion are now largely being axed by the Trump administration to focus on a return to "greatness'," said Gary Kamvis, a managing partner at Point Hope Ventures. "The new administration's actions are having an immediate impact on the crypto markets, which are now entirely driven by politics."

The "Mag 7" stocks were on pace to close out the week deeply in the red as investors assessed President Trump's tariff plans and the potential impact those could have on the EU and the U.S. economy. Nvidia stock, meanwhile, rebounded more than 1% in afternoon trading. However shares were on pace to close out the past five days down more than 9% after the AI chip giant's quarterly results failed to wow investors.

TSLA) shares also rallied on Friday, but were still on track to lose 13% for the past seven days as the 'Trump trade' continues to unwind. Shares of the EV giant are down roughly 27% year-to-date.

Among the "Mag 7" stocks, Google (NASDAQ:GOOGL) and Meta (NASDAQ:META) shares were also set to close out the week lower. Among the other stocks trending in afternoon trading:

Palantir (NYSE:PLTR): The data analytics company dropped 3% Friday, continuing a losing streak that has eaten up nearly one-third of its share price since its record high earlier this month. Retail investors who have flocked to the stock and boosted the ticker to the top of the charts have pulled back, risking a continued unwinding. The downward trend comes as the Trump administration moves to cut defense spending, a major source of Palantir's income.

Rocket Lab (NASDAQ:RKLB): Shares of the aerospace manufacturer fell 0.6% Friday afternoon following a disappointing first quarter revenue forecast and the delay of the launch of its Neutron rocket to the second half of the year.

Strategy (NASDAQ:MSTR): The largest corporate holder of bitcoin (formerly known as MicroStrategy) bounced back after getting knocked down this week in a broad crypto rout. Shares rose about 3% as of the afternoon. Bitcoin (BTC-USD), the most dominant cryptocurrency, has shed roughly 12% this week. Macroeconomic uncertainty around tariffs and inflation and a $1.5 billion crypto exchange hack contributed to the pullback among investors.

Autodesk (NASDAQ:ADSK): The software company beat expectations on the top and bottom lines but investors pulled back, even as the company announced plans to focus on profitability, including a cut of more than 1,300 jobs. The restructuring plan would impact about 9% of the company's workforce.

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