Amazon shares contributed to the gains, rising 1% after an analyst at Piper Jaffray said the company’s stock could reach $3,000 in two years. Dow Inc added to the gains, climbing 0.8% after J.P. Morgan upgraded the stock to neutral from underweight.
The president’s comments lifted market sentiment at a time when investors are growing more convinced that the trade war will take longer than expected to conclude. The Dow and S&P 500 came into Friday’s session down more than 1% each for the week while the Nasdaq had lost 2.4%.
Crude prices are down more than 6% this week as trade worries spilled over to other markets. Investors also loaded up on Treasurys this week. On Thursday, the 10-year Treasury note yield fell to its lowest level since October 2017.