J.P. Morgan Chase, Morgan Stanley, Citigroup, Wells Fargo, Goldman Sachs and Bank of America all rose.
Their gains come after they passed the Fed’s annual stress test and got approval to boost dividends and share repurchase programs. Goldman hiked its quarterly dividend by nearly 50% while J.P. Morgan raised its dividend by 10 cents.
Procter & Gamble also gave stocks a jolt, rising 1.4% after an analyst at Goldman Sachs upgraded the stock to buy from neutral.
The world’s two largest economies have maintained firm stances going into the weekend, with the Chinese Ministry of Commerce calling on Washington to cancel its pressure and sanction measures on Huawei and other Chinese companies, while Trump reiterated a threat to impose tariffs on all Chinese imports if talks fail.