Overview
- All three major U.S. indexes closed up about 0.5% Friday, with the Dow and Nasdaq gaining 0.52% and the S&P 500 up 0.53%.
- For the week, the Nasdaq rose 2.1%, the S&P 500 added 1.7%, and the Dow advanced 1.56%.
- President Donald Trump said a proposed additional 100% tariff on Chinese goods would not be sustainable and confirmed a meeting with Xi Jinping.
- Treasury Secretary Scott Bessent was set to meet with China’s Vice Premier He Lifeng on Friday in a move viewed as cooling trade tensions.
- Regional-bank nerves persisted after sharp drops Thursday, though Zions rebounded 5.84% and Western Alliance rose 3.11% Friday, while American Express jumped 6.23% on strong earnings.