Stocks in the US were higher on Friday, with the S&P 500 rising 0.4%, the Nasdaq adding 0.6% and the Dow Jones gaining about 110 points, as traders weighed signs of a potential de-escalation in global trade tensions.
President Trump said an 80% tariff on China "seems right" ahead of trade talks led by Treasury Secretary Scott Bessent and Chinese counterparts in Switzerland this weekend. Earlier reports had suggested the tariff rate could be reduced to below 60%.
Energy and consumer discretionary were the top performing sectors while consumer staples underperformed. Corporate earnings also remained in focus. Shares of Pinterest surged over 7% after the company reported better-than-expected revenue and user growth.
Lyft jumped nearly 17% following a strong report on gross bookings, while Coinbase slipped about 1.2% after posting a decline in profit. For the week, the S&P 500 is down 0.4%, the Nasdaq has fallen 0.3%, and the Dow Jones has edged up a modest 0.1%.
Source: Trading Economics
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