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Stocks climbed Friday, extending their gains as the White House signaled it is open to a trade deal with China, as Wall Street wrapped up a wild week.
The Dow Jones Industrials shot higher 619.05 points, or 1.6%, to finish the week at 40,212.71.
The S&P 500 regained 95.31 points to 5,363.
The NASDAQ spread its wings Friday and soared 337.14 points, or 2.1% to 16,724.46
The major averages took a leg lower after the latest consumer sentiment numbers for April came in worse than expected. The expected inflation level also surged to its highest level since 1981, according to the University of Michigan survey on consumers.
This week has been one of the most volatile periods on record for Wall Street. The major averages tumbled Thursday as traders went into risk-off mode, with trade policy uncertainty weighing on sentiment, losing a chunk of the historic gains seen on Wednesday after Trump announced a 90-day reprieve on some of his high “reciprocal” tariffs.
The S&P 500 fell 3.5% on Thursday, while the 30-stock Dow tumbled 1,014.79 points, or 2.5%. The tech-heavy NASDAQ ended the day lower by 4.31%. On Wednesday, the S&P 500 rallied 9.5% for its third-largest gain in a single day since World War II, while the 30-stock Dow skyrocketed more than 2,900 points.
Despite the tumultuous week, the three major averages are headed toward solid gains in the period. The S&P 500 is on pace for a 5.8% advance, its best weekly performance since November. The NASDAQ is on track to gain 7.3%. The Dow is headed for a 5.1% jump week-to-date.
Prices for the 10-year Treasury fell Friday, pushing yields back up to 4.48% from Thursday’s 4.41%. Treasury prices and yields move in opposite directions.
Oil prices strengthened $1.50 to $61.57 U.S. a barrel.
Prices for gold jumped $71.70 to $3,249.20 U.S.
