Optimism over the U.S.-China trade talks lifted the markets on Friday. The Dow rose 443 points, rising more than 3 percent on the week. The blue chip index and the Nasdaq posted their eighth straight weekly gains.
Pence Wealth Management chief investment officer, Dryden Pence:
SOUNDBITE: PENCE WEALTH MANAGEMENT CHIEF INVESTMENT OFFICER, DRYDEN PENCE (ENGLISH) SAYING:
"I think they're optimistic about the general economy continuing to move forward. We've recovered nicely after the kind of craziness dip that we had at the end of the year. And earnings continue to chug forward. Growth continues to move forward. It may be a little less than what we had last year, but positive growth is positive growth."
Trade talks continue in Washington next week. Both sides said they made progress in this week's negotiations in Beijing. That drove up shares of trade-sensitive industrials like Boeing and Caterpillar.
PepsiCo shares bubbled higher. The beverage and snacks maker forecast an increase in revenue growth.
Nvidia rose. The chipmaker forecast fiscal year sales that topped analysts expectations.
In Europe hopes surrounding the trade talks and a plan to support euro zone banks sparked a stong stocks rally.