U.S. stocks rebounded on Friday, with the S&P 500 and Dow Jones Industrial Average both rising 1.4%, as better-than-expected inflation data eased concerns over interest rate cuts. Despite this, the market remains cautious amid political uncertainty and potential global trade challenges. Notable declines included U.S. Steel, down 4.9%, and Novo Nordisk, which fell 17% after disappointing news on a weight-loss treatment.
President-elect Donald Trump has vowed to block Nippon Steel's acquisition of U.S. Steel, emphasizing his opposition to foreign ownership of the American company. He plans to strengthen U.S. Steel through tax incentives and tariffs, while the deal faces scrutiny from labor unions and the Biden administration. Nippon Steel argues the acquisition would revitalize the Rust Belt and enhance national security.
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