U.S. stock markets rose on Friday due to positive developments regarding trade negotiations with China and strong earnings reports from sector banks. The S&P 500 index closed with a %0.5 increase despite a volatile session early on, finishing the week up %1.7.
U.S. Treasury Secretary Scott Bessent stated that the next trade meeting between the two countries will likely be held next week. Additionally, President Donald Trump expressed optimism, stating that tariffs are “unsustainable” and that the discussions with Chinese officials could yield successful results.
Reports from Truist Financial Corp. and Fifth Third Bancorp eased concerns about credit quality following the announcement that Zions Bancorp and Western Alliance Bancorp were victims of fraud. Furthermore, the tech-heavy Nasdaq 100 index rose by %0.7. The Cboe Volatility Index declined to the 21 level, indicating a more stable market.
In the first trading day of the new week, U.S. and European futures indices are showing gains. Asian stock markets rose, with the MSCI Asia Pacific Index increasing by %1.6 as trade concerns eased.
Kyle Rodda, senior market analyst at Capital.com in Melbourne, commented, "Markets are pricing in a calming situation. However, the possibility of ongoing concerns remains until such steps are clearly announced."
The yield on U.S. 10-year Treasury bonds rose nearly one basis point to %4.02. After a %0.5 decrease last week, oil prices and the Bloomberg Dollar Index remain volatile due to trade risks and credit concerns. Gold is currently trading around 4,258 dollars after an approximate %6 increase last week.
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