Wall Street’s risk-on brigade pushed the S&P 500 to its longest winning streak in two decades, with scars from April’s tariff shock healing on fresh signs of US-China diplomacy.
The S&P 500 and the Nasdaq 100 rose more than 1 percent each on Friday, notching a second straight week of gains. A dollar index dropped. Treasuries slid, with the policy-sensitive two-year yield jumping over 10 basis points to 3.83 percent. Oil slipped as OPEC+ discussed making another major production increase. With demand for havens fading, gold suffered a second consecutive week of losses. A strong jobs report earlier showed a labor market that’s cooling but remaining resilient. Recent developments also indicate that trade tensions are easing between China and the US.
BLOOMBERG
