The three major US stock indexes fluctuated between small gains and losses on Friday in what could be another volatile session. Consumer staples and energy stocks led the gains, while communication services was the weakest-performing sector.
Quarterly results from regional banks helped lift sentiment, with Truist Financial rising 2.4%, and Fifth Third Bancorp climbing 3%. Earlier, futures had tumbled as signs of credit stress among regional lenders reignited concerns over US credit quality. Zions Bancorporation and Western Alliance, at the center of the recent turmoil, rebounded 3.6% and 2.7% respectively. American Express shares also gained 4.3% after the company's earnings beat expectations.
Meanwhile, trade tensions appeared to ease after President Trump told reporters that current tariffs on China were "not sustainable" and confirmed plans to meet with President Xi Jinping. For the week, the S&P 500 is up 1.2%, the Dow Jones has gained 1%, and the Nasdaq has surged 1.6%.
Source : Tradingeconomics.com
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