Stocks rose on Friday, putting the three major averages on pace to round out the week with gains. SoundHound AI soared 25%.

The Dow Jones Industrial Average gained 126 points, or 0.3%. The S&P 500 also advanced 0.3%, while the Nasdaq Composite jumped 0.4.

The moves come after the 30-stock Dow, along with the S&P 500, closed in the red on Thursday, while the Nasdaq outperformed. The Dow saw some sharp swings during the day, up 305 points at its high and down nearly 394 points at its low.

President Donald Trump’s “reciprocal” tariffs took effect at midnight on Thursday, with some of the steepest duties including Syria’s 41% and the 40% rate facing Laos and Myanmar.

Stocks initially rose Thursday morning after Trump announced a day earlier that his 100% tariff on imported semiconductor chips would not affect companies that are “building in the United States.”

Going forward, the main area of focus for investors continues to be watching Trump’s trade policies play out, said Thomas Martin, senior portfolio manager at Globalt Investments.

“There’s less turbulence with tariffs, but there’s still plenty of turbulence. There’s still plenty of questions out there as to how they’re going to affect companies’ decision making, supply chains, costs, margins, pricing, how it’s going to affect consumers and whatnot,” Martin told CNBC. “So I think there’s still a lot of a lot of uncertainty associated with the tariffs. It’s still the most important thing, at this point, that just has to be worked out.”

On Thursday afternoon, the president announced that he has selected Stephen Miran, chair of the Council of Economic Advisors, as his pick to replace Adriana Kugler on the Federal Reserve Board of Governors. Miran will serve out the rest of Kugler’s term, which expires in January, following her resignation last Friday.

The major averages are on pace for weekly gains, with the S&P 500 up 1.6% and the Dow on pace for a 0.9% advance. The Nasdaq is poised for a 2.9% climb.