The Dow in early April had dropped 16% from its previous December peak. The blue-chip index was on track for its worst April decline since 1932 before Trump paused his initial “Liberation Day” tariffs, swiftly lifting stocks out of their slump.

U.S. stocks opened higher on Friday as major equity indexes looked to finish off another strong week on Wall Street. The Dow Jones Industrial Average tallied an intraday record high at the open — its first of 2025.