Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York.
This week's earnings were largely driven by technological odds, as the sector grew by 5%. The technology sector has also become the best interpreter of 2019. Nvidia is the title with the best performance in the sector, increasing by over 12%, while the titles of other semiconductors such as Broadcom and Lam Research have risen considerably this week.
On Friday, VanEck Vectors Semiconductor ETF (SMH) rose more than 2%. Shares of Broadcom brought the gains up more than 9% after the company reported better quarterly earnings than expected.
Chinese Deputy Premier Liu He spoke by telephone with US Treasury Secretary Steven Mnuchin and US trade representative Robert Lighthizer, Xinhua news agency reported Friday. The report, according to The South China Morning Post, said: "The two sides have made concrete progress on the text of the trade agreement between the two parties."
The news comes after CNBC reported Thursday that Chinese negotiators suggest combining a US state visit with a trade agreement. Beijing wants an agreement to be fully settled before President Xi Jinping meets with US president Donald Trump.
"Trade negotiations between the United States and China will probably reach a temporary agreement, transforming future negotiations into a framework for monitoring China's compliance with trade and intellectual property policies," wrote Alberto in a note. Gallo, responsible for the macro strategies of Algebris Investments. He added, however, that "binary events like this" may not translate into queue risks.
AT&T shares rose by 0.8% after Raymond James upgraded the telecommunications giant to outperform market performance, citing an attractive valuation from rival Verizon. "We believe that the combination of positive earnings growth and deliveries during the year will return to being investors in AT&T," said analyst Frank Louthan in a note
-CNBC by Sam Meredith and Spriha Srivastava contributed to this report.