LIVE MARKETS-US stocks end up for strong week powered by trade deal hopes

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U.S. STOCKS END UP FOR STRONG WEEK POWERED BY TRADE DEAL HOPES

U.S. stocks ended higher on Friday and posted strong weekly gains as investors pondered whether or not the lows are in for the recent selloff.

Rising optimism that U.S. President Donald Trump’s administration will reach deals with trading partners that avoid the worst case scenarios for tariffs has bolstered risk appetite and brought stocks off their lows.

But traders remain nervous that the economic impact of tariffs, which may include slowing growth and higher inflation, could lead to further volatility. Longer-term, the question also remains whether the erratic implementation of the policies will scare investors away from the United States.

China exempted some U.S. imports from its steep tariffs in a sign on Friday that the trade war between the two countries could be easing, though Trump and Beijing have offered contradictory reports on whether the two countries have begun trade talks.

Japan is considering increasing its corn imports from the United States as part of trade negotiations. South Korea and the United States agreed to craft a trade package aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July.

Investors are also focused on earnings season with 179 of the companies in the S&P 500 having reported. Of those, 73% have beaten expectations, according to LSEG.

Consumer discretionary .SPLRCD led S&P subsectors on Friday, rising 2%, while materials .SPLRCM, losing 0.7%, was the worst performer.

The Nasdaq Composite .IXIC rallied 1.3% for a weekly gain of 6.7%, while the S&P 500 .SPX was up 0.7% for a 4.6% weekly return and the Dow Jones Industrial Average .DJI edged green by just 0.05% on the day, for a weekly increase of 2.5%.

Here is Friday’s closing market snapshot:

(Karen Brettell)

FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:

INDIVIDUAL INVESTOR BEARS SLIP, BUT STILL ELEVATED - AAII - CLICK HERE

TIME TO GO BACK INTO THE US DOLLAR? - CLICK HERE

FTSE MAKES IT A PERFECT 10 - CLICK HERE

LESS ROTTEN BUT STILL GRIM: UMICH CONSUMER SENTIMENT - CLICK HERE

U.S. STOCKS STRIVE FOR STRONG WEEKLY GAINS - CLICK HERE

S&P 500 INDEX'S STRONG 3-DAY RUN HAS SET A HIGH BAR - CLICK HERE

EARNINGS IN FULL SWING, WATCHING THE GUIDANCE - CLICK HERE

WHERE IS EUROPEAN EQUITIES' OUTPERFORMANCE AS INFLOWS POUR IN? - CLICK HERE

ALL ABOARD THE YEN TRAIN - CLICK HERE

STOXX RISES ON EASING TRADE TENSIONS, Q1 RESULTS MIXED - CLICK HERE

EUROPE BEFORE THE BELL: FUTURES TICK UP AS TRADERS EYE EASING US-CHINE TENSIONS - CLICK HERE

FOCUS ON EARNINGS WHILE US AND CHINA QUIBBLE - CLICK HERE