Stock indexes climbed in afternoon trading, with investors weighing new signals about the health of America’s banking sector and comments from President Trump about tariffs on China.
In a television interview, the president said the U.S. is “going to do fine with China.” He said the extra 100% charge on goods from China that he has threatened to introduce at the start of November wasn’t sustainable.
But he added that Beijing had forced him into this position and the levies “could stand.” Treasury Secretary Scott Bessent is scheduled to speak Friday evening with Chinese Vice Premier He Lifeng.
Also Friday, President Trump met with Ukrainian President Volodymyr Zelensky in Washington.
Investors considered solid earnings reports from financial firms including Fifth Third and American Express. A day earlier, concerns about regional banks had hit stocks. The concerns, partly centered on Zions Bancorp, came on the heels of two high-profile bankruptcies and after a sustained rally that has lifted many asset prices to records.
Stock indexes rose. The Nasdaq composite, S&P 500 and Dow industrials all picked up 0.5%.
Oil prices stabilized, with U.S. crude futures rising 0.1% after hitting a nearly five-year low Thursday, amid concerns about a growing oil glut and a global economic slowdown.
Global indexes mostly fell. Hong Kong’s Hang Seng lost 2.5%, its biggest drop since April. The STOXX Europe 600 index was down nearly 1%.