Nasdaq climbs more than 2%, Dow Jones adds 587 points

US stocks advanced at the close of the week’s first session, as Wall Street rebounded from a sell-off sparked by Washington’s threat to raise tariffs on Beijing. The gains came amid optimism that trade tensions may ease after President Trump said relations with China would be fine.

The Dow Jones Industrial Average climbed 1.29%, or 587 points, to close at 46,067 points.

The S&P 500 gained 1.56%, or 102 points, to end at 6,654 points, while the Nasdaq Composite surged 2.21%, or 490 points, to 22,694 points.

Stoxx Europe 600 added 0.45% to 566 points, with gains capped by a 0.80% decline in the auto sector.

Germany’s DAX increased 0.6% to 24,387 points, France’s CAC 40 inched up 0.2% to 7,934 points, and the UK’s FTSE 100 rose 0.15% to 9,442 points.

In Japan, the Tokyo Stock Exchange was closed for a public holiday in celebration of Sports Day, with trading set to resume on Tuesday.

Brent crude futures for December delivery advanced 0.94%, or $0.59, to settle at $63.32 per barrel, while US WTI crude for November delivery edged up 1%, or $0.59, to $59.49 per barrel.

Gold futures for December delivery gained 3.3%, or $132.6, to settle at $4,133 per ounce, marking the 45th record close for the most actively traded contract in 2025.