The Dow Jones Industrial Average, S&P 500, and Nasdaq rose on Friday as investors responded positively to signs of a potential de-escalation in the ongoing tariff war between the United States and China.
U.S. stocks picked up where they left off Thursday after President Trump announced a major trade deal with the United Kingdom. The Dow, S&P 500, and Nasdaq indices all opened in the green on Friday after U.S. President Donald Trump hinted at cutting tariffs on Chinese imports to 80%.
Trump said in a Truth Social post:
“80% Tariff on China seems right! Up to Scott B,” referring to Treasury Secretary Scott Bessent.
You might also like: Dow gains 250 points, Bitcoin reclaims $100k after Trump promotes U.K. trade deal
The weekend will see the U.S. and China hold trade talks after offensive and counter-offensive tariffs hit risk assets hard.
U.S. Secretary Treasury Scott Bessent is among U.S. officials that will engage with Chinese counterparts in highly anticipated trade talks in Switzerland over the weekend. Also participating will be U.S. Trade Representative Ambassador Jamieson Greer.
Notably, as equities climbed on May 8 and continued into Friday, cryptocurrencies also rose. Bitcoin (BTC), looking to put the tariff-driven chaos behind it, spiked to above $103k .
Bitcoin’s gains also boosted the altcoin market, with a number of assets including Ethereum breaking key resistance areas.
According to a survey by the American Association of Individual Investors, retail investor bullishness recently hit a three-month high.
The measure of how bullish Main Street is despite the tariffs issues, AAIS says 29% of respondents are bullish, up from a total of 20.9% the previous week. Individual investor bullishness stood at 33.3% in early February as stocks rallied.
You might also like: CryptoQuant CEO admits he was wrong about Bitcoin bull cycle
