(CNBC) Stocks posted their second consecutive weekly rise on Friday as investor sentiment was boosted by better-than-expected jobs data and progress on the U.S.-China trade front.
The S&P 500 and Dow Jones Industrial Average both climbed about 2% this week, while the Nasdaq Composite surged 2.7%. On Friday, the S&P 500 and Nasdaq closed higher by 0.5% and 0.6%, respectively, while the Dow climbed 40.36 points.
Materials and financials were the best-performing sectors this week, rising 4.3% and 3.3%, respectively. Bank shares led the gains in financials. Morgan Stanley jumped more than 6% this week, while Goldman Sachs, Bank of America and Citigroup all ended the week up more than 5%. J.P. Morgan Chase, meanwhile, gained 4%.
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