Wall Street extended its gains to a ninth straight day Friday, marking the stock market’s longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April.
The rally was spurred by a better-than-expected report on the U.S. job market and resurgent hope for a ratcheting down in the U.S. trade showdown with China.
The S&P 500 climbed 1.5%. The Dow Jones Industrial Average added 1.4%, and the Nasdaq composite rose 1.5%.
The gains were broad. Roughly 90% of stocks and every sector in the S&P 500 advanced. Technology stocks were among the companies doing the heaviest lifting. Microsoft rose 2.3% and Nvidia rose 2.5%. Apple, however, fell 3.7% after the iPhone maker estimated that tariffs will cost it $900 million.
Banks and other financial companies also made solid gains. JPMorgan Chase rose 2.3% and Visa closed 1.5% higher.