U.S. stocks gained on Friday, ahead of a long Memorial day weekend, after U.S. President Donald Trump predicted a swift end to the ongoing trade war with China.
Trump said on Thursday that Huawei Technologies Co Ltd could also be included in the trade deal, while at the same time calling the Chinese telecommunications giant “very dangerous.”
However, no high-level talks have been scheduled since the last round of negotiations in Washington two weeks ago.
The S&P 500 index is on pace to end the week 1% lower, which would make it the third straight week of losses for the benchmark index, as markets worried that the trade war would result in a global economic slowdown.
“The markets seem to be struggling to hold on to gains right now because people don’t want to be too long heading into the holiday weekend,” said Marc Pfeffer, chief investment strategist at CLS Investments in Omaha, Nebraska.