NEW YORK (Reuters) – U.S. stocks rebounded from early losses on Friday to snap a four-day losing streak after U.S. President Donald Trump and Treasury Secretary Steven Mnuchin said trade talks between the United States and China were “constructive.”
The benchmark S&P 500 index had dropped as much as 1.6% but rebounded from its session lows after Mnuchin spoke positively of the two-day negotiations between the United States and China. It added further to gains after Trump echoed that sentiment in a series of tweets. The index pulled back from the session’s highs, however, after Mnuchin said no further trade talks were planned, according to CNBC.
Even with Friday’s rebound, though, the S&P 500 and the Nasdaq logged their biggest weekly percentage losses of the