Wall Street Gains: US-China Tariff Talks Propel Market Optimism

Wall Street's major indexes continued their upward trajectory on Friday, marking a third consecutive day of gains. Investors are keenly evaluating President Donald Trump's latest remarks about tariffs on China, with a crucial weekend meeting between the two economic giants looming.

Initially, futures had dipped following Trump's suggestion that China was not adequately opening its markets to the US. He stated that 80% tariffs on Chinese goods 'seems right,' though they currently stand at 145%. Representatives from the world's largest economies are set to meet in Switzerland, raising hopes of easing trade tensions that have strained global economic growth.

Market experts like Thomas Hayes, chairman at Great Hill Capital, maintain that while an immediate deal at 80% may not be realistic, the dialogue marks progress. On Thursday, Wall Street reacted positively to a new trade agreement between Britain and the US, paired with optimism about further deals. Energy sectors led the charge Friday, contributing to overall market gains.

(With inputs from agencies.)