(CNBC) Stocks surged on Friday amid increasing hopes for a U.S.-China trade deal as equities were on pace to post another solid weekly gain.
The Dow Jones Industrial Average jumped 429 points as J.P. Morgan Chase and Goldman Sachs outperformed. The S&P 500 gained 1.1 percent, led by the energy and industrials sectors. The Nasdaq Composite advanced 0.6 percent.
Energy shares were boosted by higher oil prices. West Texas Intermediate futures rose 2.2 percent to $55.59 per barrel.
Advertisement - story continues below