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(Bloomberg) -- Oil rebounded on Friday, but still notched its second straight weekly decline as the escalating trade war between the world’s two largest economies drove wild volatility. Most Read from BloombergThe Secret Formula for Faster TrainsIn Chicago, a Former Steel Mill Looks to Make a Quantum LeapMidtown Office Building Evacuated on Concerns of Wall CollapseNYC Tourist Helicopter Crashes in Hudson River, Killing SixEven Oslo Has an Air Quality ProblemWest Texas Intermediate futures advan

NEW YORK (Reuters) -Wild swings in global markets are poised to keep U.S. stock investors on edge in the coming week, as a weakening dollar and a selloff in Treasuries compound extreme equity volatility that erupted after President Donald Trump launched his sweeping tariffs. The S&P 500 was set for solid gains on the week after Trump pulled back on the heftiest tariffs on many countries, relieving Wall Street's worst-case scenario. Concerns about lasting economic damage remained as the U.S. and China ratcheted up their trade battle and questions lingered over levies elsewhere as Trump only paused many of the most severe tariffs.

The Michigan Consumer Sentiment Index fell for the fourth consecutive month in April as worries about President Donald Trump’s tariff policies have raised inflation expectations to their highest levels since 1981.

Democrats are raising alarms about potential insider trading. There's no evidence yet, but lawmakers and Trump advisors have to disclose by mid-May.

The crypto market seems to think so, with Bitcoin (CRYPTO: BTC) up 5.2% over the past 24 hours as of 1 p.m. ET, Ethereum (CRYPTO: ETH) up 4.6%, and Dogecoin (CRYPTO: DOGE) rising 5.3%. The stock market has gained as well on what seems to be hope that rising bond yields and a falling dollar will lead to the Trump administration finding a path away from the trade war that's currently unfolding. Investors are taking a "risk on" mentality going into the weekend, which often happens when news of trade talks or deals takes place while the market is closed.

Interim SEC Chairman Mark Uyeda hints at interest in a short-term solution for overseeing crypto firms while the agency contemplates permanent rules.

White House Crypto Summit attendee and BitGo CEO Mike Belshe is still bullish on crypto in 2025

DETROIT (Reuters) -GM is temporarily halting production of its electric commercial van at its assembly plant in Ontario due to slow sales, the company and the union representing workers there said. The Detroit automaker is temporarily laying off 1,200 workers at the plant as a result, according to Unifor, the union representing the workers. GM said it was making "operational and employment adjustments to balance inventory and align production schedules with current demand," at the CAMI Assembly plant where it makes Chevrolet BrightDrop electric vans.

President Trump's unpredictable trade policies have pushed stock volatility up to its highest level in years, creating substantial uncertainty and, some say, opportunity on Wall Street.

U.S. energy firms this week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by seven to 583 in the week to April 11, the biggest weekly decline since June 2024. Baker Hughes said this week's decline puts the total rig count down 34 rigs, or 6% below this time last year.