04:55 PM EST, 01/31/2025 (MT Newswires) -- US equity indexes were mixed this week after the White House announced trade tariffs with major trading partners, effective Saturday, countering earlier gains from mega-cap quarterly earnings, a monetary policy pause and in-line inflation data.

* The S&P 500 closed at 6,040.53 on Friday, down from 6,101.24 a week earlier, and the Nasdaq Composite ended at 19,627.44, down from 19,954.30 a week earlier The Dow Jones Industrial Average rose to 44,544.66 from 44,424.25 a week earlier. The indexes traded close to all-time highs before the tariffs were announced Friday.

* The Trump administration will begin implementing a 25% tariff on Mexico and Canada and a 10% tariff on China on Saturday, media reports said, citing White House Press Secretary Karoline Leavitt. CNBC reported the tariffs will be available for public inspection at some point on Saturday.

* Microsoft ( MSFT ) , Meta Platforms ( META ) , Tesla (TSLA), and Apple (APPL) reported earnings this week with Meta and Apple shares gaining.

* Fed Chair Jerome Powell said the Federal Open Market Committee doesn't need to rush to lower interest rates as the pace of inflation remains elevated. The FOMC left interest rates unchanged in January.

* The personal consumption expenditures price index grew 0.3% in December, as expected in a survey compiled by Bloomberg, following a 0.1% increase in the previous month. The year-over-year core PCE advanced to 2.6% from 2.4% as anticipated. Core PCE price index climbed 0.2% -- as forecast in a separate Bloomberg poll -- following a 0.1% gain in November. The annual rate remained at 2.8%, meeting expectations.