Wall Street's Rally Amid U.S.-China Trade Truce and EU Dialogue Surge

Wall Street saw gains on Friday as European shares notched a fifth consecutive weekly rise, buoyed by strong earnings that sustained the rally begun by a trade truce between the U.S. and China. Gold witnessed its largest weekly loss since November, marking a stark contrast in market reactions.

Oil futures also experienced a slight gain over the week, lending further support to stocks and bonds, despite remaining at relatively low levels. Globally, stock indices across the board rose by 0.5%, thanks to ongoing trade discussions and optimistic corporate earnings forecasts.

Concerns over President Donald Trump's trade policies lingered, impacting U.S. consumer sentiment and inflation expectations, according to a University of Michigan survey. Meanwhile, weaker-than-expected housing starts led to a decrease in U.S. Treasury yields as market participants adjusted to volatile economic indicators.

(With inputs from agencies.)