(Reuters) – Wall Street ended higher on Friday as investors weighed U.S. President Donald Trump’s latest comments on China, while quarterly results from regional banks eased concerns over credit risk.
The Dow Jones index gained 0.52%, or 238.37 points, to 46,190.61 points. The broader Standard & Poor’s 500 gained 34.94 points, or 0.53% to 6,664.01 points. The Nasdaq Composite advanced 117.44 points, or 0.52% to 22,679.975 points.
Donald Trump said his plan for 100% tariffs on Chinese goods would be unsustainable, while blaming Beijing for the latest impasse in trade negotiations, initiated after Chinese authorities tightened their control over exports of rare earths.
He announced these new customs duties a week ago, as well as export restrictions on “all critical software”, supposed to come into force on November 1.
Regional bank stocks, meanwhile, rebounded from Thursday’s decline, when Zions Bancorporation disclosed losses related to two commercial and industrial loans, and Western Alliance said it had filed a fraud lawsuit against Cantor Group V, LLC.*
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