Stocks Ended Solid Gains, Dow Posted over 300 Points

U.S. stocks ended solid gains on Friday, as the high-level trade negotiations between the U.S. and China concluded in Washington. The Dow Jones Industrial Average rose 319.92 points, or 1.21%, to 26,816.59, the S&P 500 advanced 32.14 points, or 1.09%, to 2,970.27. The Nasdaq Composite gained 106.26 points, or 1.34%, to 8,057.04. For the week, the Dow was up 0.9%, the S&P 500 was up 0.6% and Nasdaq was up 0.9%.

Oil prices climbed Friday to tally a weekly gain of nearly 4%, as reported progress in U.S.-China trade negotiations eased worries about energy demand, and news of an explosion on an Iranian tanker fed tensions in the Middle East, raising the potential for crude-output disruptions in the region. West Texas Intermediate crude for November delivery climbed $1.15, or 2.2%, to settle at $54.70 a barrel, with the front-month contract ending 3.6% higher for the week. December Brent crude added $1.41, or 2.4%, to $60.51 a barrel, for a weekly gain of 3.7%.

The U.S. and China agreed on the outlines of a partial trade accord Friday that President Donald Trump said he and China’s Xi Jinping could sign as soon as next month. Under the pact, China would agree to some agricultural concessions, while the U.S. would provide some tariff relief.