Market Moves: Gains in Tech and Trade Tensions Jolt Wall Street

Wall Street indices were set to open higher on Friday, buoyed by Apple's strong sales forecast and stable inflation readings. However, the market experienced volatility due to trade tensions and a decline in tech stocks, including a significant drop by Microsoft. Investors remain cautious amid mixed corporate earnings and geopolitical developments.

Wall Street's major indices prepared to open on a high note Friday, after Apple projected robust sales. The steady reading of the Federal Reserve's chosen inflation metric maintained investor confidence in the central bank's interest rate plans.

Apple's premarket trade showed a 4.2% increase as executives expressed optimism about recovery from declining iPhone sales, supported by the integration of AI features. Meanwhile, Exxon Mobil saw profits exceed expectations, contrasting with Chevron's performance, which missed the mark.

The market experienced disturbances, however, with tech stocks facing a downturn. Microsoft fell over 6% due to weak cloud computing growth forecasts, following DeepSeek's breakthrough in affordable AI models, impacting AI-linked shares. Adding to the uncertainty, President Trump announced new tariffs on Mexican and Canadian imports, keeping global markets alert.

(With inputs from agencies.)