By Caroline Valetkevitch
He climbed the largest New York stock indices (Reuters) on Friday, with Wall Street boiled by technology-related shares, while the dollar had its first weekly increase in over a month as investors looked for signs that the US-China trade war could be relieving.
Google's parent's parent shares raised the alphabet by 1.7% after beating profit expectations and reiterate AI spend targets, while S&P 500 technology sectors, optional consumers and communications services have gained more than 1% each.
But investors have been listening closely to the corporate calls of this earnings season, especially for lower or drawn projections, in the midst of uncertainty about US President Donald Trump's abusive.
Trump said in an interview announced on Friday that tariff negotiations were underway with China, but Beijing denied that any conversations are taking place, the latest in a series of conflicting signals over progress to declare a trade war that threatens SAP global growth.
Trump told Time Magazine that conversations were taking place and Chinese President Xi Jinping had called him.
Tit-for-tat tariffs that began with Trump's announcement of Hefty Import levies on April 2 threatened a trade stand between the world's two largest economies and triggered fears slowing down in global growth.
“This week you have seen a kind of relief some of the worst case of Trump's tariff actions may not come true,” said Chip Rewey, CIO of Rewey Asset Management, a registered investment adviser based in New Jersey.
“While we've recovered from some of the lows, we haven't pushed back to highlights. And I think somewhere in that range is where we'll wait a while.”
Three large US stock indexes registered sharp earnings for the week, while European shares identified their second straight weekly earnings.
The bounce in stocks will be tested next week when another wave of corporate results, led by Apple and Microsoft, will be released.
Dow Jones's industrial average rose 20.10 points, or 0.05%, to 40,113.50, the S&P 500 rose 40.44 points, or 0.74%, to 5,525.21 and the NASDAQ compound rose 216.90 points, or 1.26%, to 17,382.94.
MSCI stocks meter worldwide rose 4.88 points, or 0.60%, to 824.74. Stoxx Index 600 Pan-European finished 0.35%.
In Japan, the Nikkei was up 1.8% on Friday and has regained all its losses since Trump's announcement of the top US tariffs in 100 years – levies that largely prevented, except for China and a 10% basic tariff.
After beating in recent weeks due to tariff news and flight from US assets, the dollar restored a little against the euro and yen.