US stocks end strong week on winning note
US stocks end strong week on winning note
All three major indices on Wall Street climbed on Friday. Photo: AFP
Wall Street stocks finished a good week on a winning note on Friday, over continued optimism after the de-escalation of the US-China trade war.
Analysts expect more trade deals, setting the stage for further equity gains after the turmoil in early April following US President Donald Trump's sweeping tariff announcements.
FHN Financial's Chris Low also pointed to a "growing sense of relief" over benign inflation data that has helped counter worries that Trump's tariffs will reignite pricing pressure.
The Dow Jones finished 0.8 percent higher at 42,654.
The S&P 500 gained 0.7 percent to 5,958, while the Nasdaq climbed 0.5 percent to 19,211.
Investors largely shrugged off weaker consumer sentiment data from the University of Michigan that reflect consumers' "sombre" economic outlook and expectations of higher inflation.
Low also cited worries about the fate of Trump's fiscal and budget legislation in Washington.
The process on Capitol Hill is "by all accounts not going very well," Low said.
Among individual companies, Take-Two Interactive fell 2.4 percent after announcing US$3.55 billion in one-time costs connected to the delay of the launch of its new "Grand Theft Auto" video game. The game developer recently pushed back the timeframe on the unveiling to May 2026.
Applied Materials dropped 5.3 percent following disappointment with the semiconductor company's outlook.
But UnitedHealth gained 6.4 percent in a partial rebound from Thursday's big decline over a news report of a criminal probe into the health giant. (AFP)
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