Modest levels of optimism about China – U.S. trade relations pushed stocks up slightly Friday. Late Thursday, President Trump indicated he saw a resolution to the trade war coming soon. Despite the president’s encouraging comments, all three major indexes fell for the week. For the week, the Dow fell 0.63 percent to finish at 25,585.69. The S&P lost 1.14 percent to finish at 2,826.06, and the NASDAQ dropped 2.29 percent to end the week at 7,637.01.
Stocks closed lower Friday after CNBC reported U.S. – China trade negotiations had stalled. In positive news, the Trump administration reached a deal with Canada and Mexico to end U.S. tariffs on steel and aluminum imports and said it would delay a decision on imposing broad tariffs on cars produced by major trading partners. But the three major indexes still closed mildly lower for the week. For the week, the Dow fell 0.61 percent to close at 25,764.00. The S&P lost 0.69 percent to finish at 2,859.53, and the NASDAQ dropped 1.27 percent to end the week at 7,816.28.
U.S. stocks dropped early Friday but rose after President Donald Trump and Treasury Secretary Steven Mnuchin described trade talks between China and the United States as productive. The rebound helped the S&P snap a four-day losing streak. For the week, the Dow fell 1.96 percent to close at 25,942.37. The S&P lost 2.10 percent to finish at 2,881.40, and the NASDAQ dropped 3.03 percent to end the week at 7,916.94.
The major indexes ended solidly higher Friday following a robust jobs report. The Bureau of Labor reported the U.S. added 263,000 jobs in April, well above analysts’ predictions. The unemployment rate fell to a near 50-year low at 3.6 percent. For the week, the Dow fell 0.14 percent to close at 26,504.95. The S&P gained 0.22 percent to finish at 2,945.64, and the NASDAQ climbed 0.37 percent to end the week at 8,164.00.