What Tariffs? Nasdaq, S&P 500 Climb to Record Highs as Netflix, Disney Continue Huge Runs
The Great Tariff Panic of 2025 that gripped Wall Street in April? It appears in the rearview mirror now, with the S&P 500 and Nasdaq closing at new all-time highs on Friday.
A number of prominent media and tech companies have been riding the wave to fresh highs as well, with Netflix increasing 1.26% and closing at a company-record $1,323.12 per share on Friday — a day after setting its previous high mark. The streaming heavyweight’s stock price is up 54% since early April.
Disney, Warner Bros. Discovery, Fox Corp. and Paramount all made minor gains on Friday, continuing recent climbs that started following Wall Street’s April downturn. WBD and Disney’s shares are up about 50% since early April, while Fox Corp. and Paramount have both made roughly 20% gains since then.
The S&P 500 jumped 0.52% and closed Friday at 6,173, surpassing its previous all-time high of 6,144, which was set in February; the tech-heavy Nasdaq, meanwhile, posted an identical percentage increase and closed at 20,273, topping its record high that was set last December.
Amazon and Alphabet, Google’s parent company, each gained more than 2% on Friday, while Apple closed slightly higher. Apple has mostly rebounded to where it was before President Donald Trump announced his “Liberation Day” tariffs in early April — a plan that initially rocked Wall Street and shaved more than $500 billion from Apple’s market cap in the days following his announcement.
“We’re going to have a booming stock market for a long time, because we’re reinvesting in the United States of America,” Trump said on April 4.
That was not the case, at least at first, when the S&P 500 and Nasdaq took its biggest hits since COVID smacked the markets in 2020. The S&P 500 is now up more than 20% and the Nasdaq has surged 32% since the day after Trump’s tariff plan was announced.
On Friday, Trump addressed the upcoming July 9 deadline on the pause he put on his stiffest tariffs, during a press conference in which he lauded the Supreme Court for limiting nationwide injunctions against executive orders. The president said he was not too concerned about the deadline when asked about it by one reporter.
“No, we can do whatever we want,” Trump said. “We could extend it. We could make it shorter.”
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