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Stocks - Wall Street Optimism Returns After Trump Tones Down Trade Rhetoric

Investing.com - Wall Street was higher Friday as investors were cautiously optimistic after U.S. President Donald Trump toned down his stance against Chinese tech giant Huawei.

The S&P 500 rose 14 points, or 0.5%, by 9:48 AM ET (13:48 GMT), while the Dow gained 149 points, or 0.6%, and the tech-heavy Nasdaq composite was up 56 points, or 0.7%.

Trump told reporters that if a trade deal was made with China, Huawei - which he still referred to as "very dangerous" - could be included in some form. The news eased fears among investors of a tech cold war between Washington and Beijing.

Trump will meet his Chinese counterpart Xi Jinping at the G20 meeting next month in Japan.

"We've had a turbulent week. Investors are stepping back at these levels, assessing opportunities entering the long weekend," said Andre Bakhos, managing director at New Vines Capital.

Amazon.com (NASDAQ:AMZN) rose 1.3% after Piper Jaffray said the e-commerce giant could be worth $3,000 a share in two years, while Facebook (NASDAQ:FB) gained 1.4% and Tesla (NASDAQ:TSLA) inched up 0.3%.

Total System Services (NYSE:TSS) surged 11.4% after reports that it is in merger talks with Global Payments (NYSE:GPN).

Elsewhere, Foot Locker (NYSE:FL) fell 17% after its comparable sales failed to grow as much as analysts expected in the first quarter.

In commodities, gold futures fell 0.4% to $1,280.80 a troy ounce, while crude oil jumped 0.8% to $58.41. The U.S. dollar index, which measures the greenback against a basket of six major currencies, slipped 0.1% to 97.620.

-- Reuters contributed to this report.

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