NEW YORK, New York - Stocks were largely higher on Friday with all the indices notching up daily and weekly gains. Steadying the markets was confusion over U.S.-China trade talks which President Donald Trump says are currently in progress, whereas China says there are no such talks taking place.

"The confusion about whether there's really talks going on with China or not took some steam out of the market," Jay Hatfield, founder and CIO of InfraCap told CNBC Friday. "Our view is that we've reached peak tariff tantrum and so it's likely to be more positive than negative."

The Standard and Poor's 500 rose by 40.44 points, or 0.74 percent, to close at 5,525.21.The Dow Jones Industrial Average edged up 20.10 points, or 0.05 percent, ending at 40,113.50.The Nasdaq Composite outperformed, gaining 216.90 points, or 1.26 percent, to finish at 17,382.94.​

For the week, the S&P 500 advanced 3.7 percent, the Nasdaq climbed 5.6 percent, and the Dow increased 1.7 percent, marking their best weekly performances in months.​​

Despite the positive market movements, U.S. consumer sentiment declined for the fourth consecutive month, reflecting ongoing concerns about inflation and economic stability amid trade uncertainties.​

Investors remain cautious, closely monitoring developments in U.S.-China trade relations and their potential impact on the global economy.​

​U.S. Dollar Strengthens Amid Easing Trade Tensions​

On Friday,the U.S. dollar gained ground against major currencies, buoyed by signs of de-escalation in the ongoing trade dispute between the United States and China.Reports emerged that China may suspend tariffs on certain U.S. goods, including medical equipment and industrial chemicals, fostering optimism in global markets.​

The dollar index rose by 0.4 percent to 99.792, potentially ending a four-week losing streak.

Major Currency Movements:

• Euro (EUR/USD):The euro weakened by 0.24 percent against the U.S. dollar, closing at 1.13609.​

• Japanese Yen (USD/JPY):The dollar appreciated by 0.77 percent against the yen, reaching 143.65.​

• Canadian Dollar (USD/CAD):The greenback edged up by 0.07 percent against the Canadian dollar, trading at 1.3859.This movement coincided with the Canadian dollar ending a seven-week winning streak amid investor uncertainty ahead of Canada's upcoming general election.​

• British Pound (GBP/USD):Despite stronger-than-expected UK retail sales data, the pound declined by 0.16 percent against the dollar, settling at 1.3317.Retail sales volumes rose 0.4 percent in March, defying economists' expectations of a 0.4 percent drop.​

• Swiss Franc (USD/CHF):The U.S. dollar gained 0.13 percent against the Swiss franc, closing at 0.8278.​

• Australian Dollar (AUD/USD):The Australian dollar fell by 0.12 percent against its U.S. counterpart, ending at 0.6399.​

• New Zealand Dollar (NZD/USD):The kiwi declined by 0.49 percent against the U.S. dollar, trading at 0.5964.​

The dollar's resurgence reflects renewed investor confidence amid easing geopolitical tensions.However, market participants remain vigilant, monitoring ongoing developments in global trade relations and their potential economic implications.​

Global Stock Markets Close Mixed Amid Trade Tensions and Economic Concerns​

On Friday, global stock markets presented a mixed picture as investors grappled with ongoing U.S.-China trade tensions and economic uncertainties.While several indices posted gains, others faced declines, reflecting the varied investor sentiment across regions.

Canada

In Canada, the S&P/TSX Composite Index slipped by 17.02 points, or 0.07 percent, closing at 24,710.51.​

UK and Europe

In the United Kingdom, the FTSE 100 index edged up by 7.81 points to close at 8,415.25, marking a modest increase of 0.09 percent.This uptick extended its winning streak to ten consecutive sessions, the longest since 2019, as investors favored defensive stocks amid global uncertainties.​

Germany's DAX index rose by 177.94 points, or 0.81 percent, settling at 22,242.45.France's CAC 40 advanced 33.48 points to 7,536.26, a gain of 0.45 percent.

The pan-European EURO STOXX 50 increased by 39.14 points, closing at 5,154.12, up 0.77 percent.Similarly, the Euronext 100 Index climbed 9.68 points to 1,501.19, a rise of 0.65 percent.​

Belgium's BEL 20 index added 15.91 points, ending at 4,306.05, up 0.37 percent.​

Asia-Pacific and Southeast Asia

In Asia, markets showed varied performances.Hong Kong's Hang Seng Index gained 70.98 points to reach 21,980.74, an increase of 0.32 percent.Singapore's STI Index, however, dipped by 8.14 points, closing at 3,823.78, down 0.21 percent.​

Australia's S&P/ASX 200 rose by 47.70 points to 7,968.20, a 0.60 percent gain, while the All Ordinaries index increased by 49.90 points, finishing at 8,175.10, up 0.61 percent.​

India's S&P BSE SENSEX declined by 588.90 points, closing at 79,212.53, a drop of 0.74 percent.Indonesia's IDX Composite added 65.44 points to 6,678.92, up 0.99 percent.Malaysia's FTSE Bursa Malaysia KLCI edged up by 2.68 points, ending at 1,509.20, a 0.18 percent increase.​

New Zealand's S&P/NZX 50 Index advanced 61.37 points to 12,017.84, a rise of 0.51 percent.South Korea's KOSPI Composite Index climbed 23.97 points, closing at 2,546.30, up 0.95 percent.Taiwan's TWSE Capitalization Weighted Stock Index surged by 393.92 points to 19,872.73, marking a significant gain of 2.02 percent.​

China's SSE Composite Index experienced a slight decline, dropping 2.23 points to 3,295.06, down 0.07 percent.Japan's Nikkei 225 saw a substantial increase of 666.59 points, closing at 35,705.74, up 1.90 percent.​

Africa

In South Africa, the Top 40 USD Net TRI Index rose by 10.41 points to 4,785.62, an increase of 0.22 percent.​

Middle East 

Middle East markets were mostly closed on Friday and will re-open on Sunday.

Photo credit: Big News Network News Agency

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