New York Fed President John Williams threw cold water on the market rally, saying in an interview that the Federal Reserve isn’t “really talking about rate cuts right now.” One of the biggest movers in Friday’s trading is Costco (COST), which is trading higher on better-than-expected first quarter earnings. Other trending tickers on Yahoo Finance include Boeing (BA), XPeng (XPEV), and Palantir Technologies (PLTR).

Top guests on Yahoo Finance Live today include:
3:05 p.m. ET - Drew Pettit, Citi U.S. Equity Strategist
4:10 p.m. ET - Claudia Sahm, Sahm Consulting Founder; former Federal Reserve Board economist
4:30 p.m. ET - Jason Mok, Brex Head of Startups