NEW YORK (Reuters) – Wall Street’s major stock indexes edged higher on Friday after falling in the previous session, as hopeful comments from U.S. President Donald Trump regarding trade relations with China assuaged concerns among some investors.
Trump said late on Thursday that he saw a resolution to the trade war with China “happening fast.” He added that Chinese telecom equipment company Huawei Technologies Co Ltd, which the White House has blacklisted, could also be included in a trade deal.
Still, he called Huawei “very dangerous.”
No high-level talks between the United States and China have been scheduled since the last round of negotiations in Washington two weeks ago.
Yet Trump’s comments were enough to give a slight lift to U.S. stocks in muted activity ahead of a long weekend. Friday marked the lowest volume of the year for a full trading session. U.S. markets will be closed on Monday for the Memorial Day holiday.
“There are some small positive stories here and there,” said John Carey, managing director and portfolio manager at Amundi Pioneer Asset Management in Boston. “With light trading volume, it doesn’t take too much to get things moving.”
Stocks rose broadly, with nine of the S&P 500’s major sectors moving higher, though declines in shares of Apple Inc and Alphabet Inc capped gains on the major indexes.
Even so, the S&P 500 ended the week more than 1% lower to notch the third straight week of losses for the benchmark index, which has been weighed down by fears that the U.S.-China trade war would result in