Stock indexes rose midday as investors weighed new signals about the health of the U.S. banking sector and President Trump’s comments on tariffs on China.
In a television interview, the president said the United States would “do well with China.” He said the additional 100% tax on goods from China that he threatened to introduce in early November was unsustainable. But he added that Beijing had forced him to take this position and that the levies “could be maintained”.
Investors looked at strong earnings reports from financial companies including Fifth Third and American Express. The day before, concerns about regional banks had affected shares. The concerns, partly centered on Zions Bancorp, follow two high-profile bankruptcies and after a sustained recovery that has driven the prices of many assets to record highs.
Oil prices have stabilized, after hitting its lowest level in nearly five years on Thursday, amid concerns about a growing oil glut and a global economic slowdown.
Global indices have mostly fallen. Hong Kong’s Hang Seng lost 2.5%, its biggest decline since April.
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