The S&P 500 is on a 9-day winning streak.
Stocks ended the week higher for the second straight week, bolstered by a Friday rally.
All of the major indexes finished higher on Friday, boosted by a better-than-expected jobs report and a potential thawing in the trade war between the U.S. and China.
On Friday, a spokesman for Chinaʻs Ministry of Finance said China was evaluating U.S. efforts to discuss tariffs, according to Chinese news outlet CCTV News.
At a news conference, the spokesman said “senior US officials” have repeatedly expressed their willingness to negotiate with China on tariffs.
“At the same time, the US has recently sent messages to China through relevant parties many times, hoping to talk with China. China is currently evaluating this,” the spokesperson said, according to the CCTV. “China’s position is consistent. If we fight, we will fight to the end; if we talk, the door is open. The tariff war and trade war were unilaterally initiated by the United States. If the United States wants to talk, it should show its sincerity and be prepared to correct its wrong practices and cancel the unilateral tariffs.”
The statement added any talks or dialogue hinges on the U.S. reversing its “wrong universal tariff measures.”
S&P 500 on 9-day winning streak
The S&P 500 gained 83 points on Friday, or 1.5%. It marked the ninth straight day of gains for the S&P 500, the longest winning streak since 2004 for the index.
Further, the S&P 500 is now back to the level it was before the April 2 tariff announcement, erasing all of the losses in one month.
The S&P 500 finished the week at around 5,687 – up about 2.9% this week. The benchmark is now down around 3% YTD.
The Nasdaq was up 266 points, or 1.5%, and finished the week at 17,978 points — up 3.4% for the week. Year-to-date, the Nasdaq is down around 7% YTD.
The Dow Jones Industrial Average surged 564 points on Friday, or 1.4%, to 41,317. It finished the week up 2.9%. The Dow is down about 2.9% YTD.
The Russell 2000 index rose 44 points, or 2.2%, to 2,020. It finished the week up 3.3% but is still down around 8% YTD.
This is the second straight week of gains for the S&P 500, Nasdaq, and Dow. The Russell 2000 index has risen for 4 straight weeks.
