US Stocks Rise, US-China Talks in Focus
US stocks rose on Friday, with the S&P 500 up 0.4%, the Nasdaq up 0.6% and the Dow Jones up about 110 points, as traders weighed signs of a potential de-escalation in global trade tensions. President Trump said 80% tariffs on China “seem appropriate” ahead of trade talks led by Treasury Secretary Scott Bessent and his Chinese counterpart in Switzerland later this week.
Previous reports suggested tariffs could be reduced to below 60%. Energy and consumer staples were the best-performing sectors while consumer staples underperformed. Corporate earnings also remained in focus. Pinterest shares jumped more than 7% after the company reported better-than-expected revenue and user growth. Lyft jumped nearly 17% after a strong report on gross bookings, while Coinbase slumped about 1.2% after posting a drop in earnings. For the week, the S&P 500 fell 0.4%, the Nasdaq fell 0.3%, and the Dow Jones edged up 0.1%.
Source: Trading Economics
