The New York Stock Exchange continued its upward trend.
On the 15th, the S&P 500 index closed at 5,916.93, up 0.41% from the previous day, marking its fourth consecutive day of gains.
The Dow Jones Industrial Average closed at 42,322.75, up 271.69 points (0.65%).
The Nasdaq Composite Index closed down 0.18% at 19,112.32.
U.S. Treasury Secretary Scott Vessey and Chinese officials agreed to temporarily reduce the tariff rates for 90 days, which acted as a factor to temporarily ease concerns about economic slowdown and rising inflation.
The Nasdaq Composite Index rose 6.6% this week, while the S&P 500 increased by 4.5%, and the Dow Jones by 2.6%.
Major technology stocks also showed strength throughout the day. Nvidia and Tesla each surged 15% on a weekly basis. Amazon and Alphabet rose by over 6% and 7%, respectively.
Joe Koo Sik Calamos, Chief Investment Officer, analyzed in a CNBC interview that "Concerns about recession are diminishing, and the stock market is showing fundamental strength, leading to a cautious optimism in market sentiment."
Foot Locker's stock soared 86% on news that DICK'S Sporting Goods would acquire it for $2.4 billion.
In contrast, UnitedHealth declined by 11% after The Wall Street Journal reported the possibility of a Department of Justice Medicare fraud investigation.
Investors also paid attention to the April Producer Price Index (PPI), which fell 0.5% from the previous month, indicating weaker price indicators than expected. This figure is significantly lower than the market estimate of a 0.3% increase. Retail sales in April increased by 0.1%, which aligned with market expectations.
Jamie Dimon, Chief Executive Officer of JPMorgan Chase, warned in a Bloomberg TV interview that the possibility of a U.S. recession still remains.
He noted, "If a recession occurs, we don't know how deep and how long it will last. I hope we can avoid it, but I'm not ruling it out yet."
Crude oil futures prices plummeted more than 3% after President Trump stated that he is engaged in "very serious negotiations" with Iran. U.S. crude fell $2.24 (3.55%) to $60.91 per barrel, while international benchmark Brent crude dropped $2.18 (3.3%) to $63.91.