S&P 500 wipes out Trump tariff losses, marks longest winning streak in 20 years as trade war cools

US stocks jumped on Friday, with the S&P 500 notching its longest winning streak since November 2004 as a solid jobs report and possible thawing in US-China trade tensions boosted spirits on Wall Street.

The S&P 500 added nearly 1.5% to climb above its closing level on April 2, when President Trump announced a sweeping tariff plan on what he called "Liberation Day." The Dow Jones Industrial Average moved up 1.4%, or over 500 points, notching a ninth winning day in a row. Meanwhile, the tech-heavy Nasdaq Composite climbed roughly 1.5%.

Stocks moved higher on Friday after the monthly US jobs report came in better than expected, indicating labor resiliency despite a stock market shock in April over tariff uncertainty. The US economy added 177,000 nonfarm payrolls in April, more than the 138,000 expected by economists. The unemployment rate held steady at 4.2%.

Earlier on Friday, China said it is evaluating US officials' recent overtures on trade talks to assess how serious Trump's administration is about a shift in policy stance. Its commerce ministry said the "door is open" if the US agrees to pull back on reciprocal tariffs, paving the way to starting formal negotiations.