US stock markets opened on a positive note Friday, buoyed by gains in technology stocks and renewed optimism that trade tensions with China may be easing. The Dow Jones Industrial Average climbed 110 points, or 0.27%, to 41,478.58, while the S&P 500 added 23 points, or 0.41%, to 5,686.99. The tech-heavy Nasdaq led the gains, rising 102.89 points, or 0.57%, to 18,031.03.Gold prices surged 1.04% to $3,340.4 per ounce, reflecting investor demand for safe havens amid geopolitical uncertainty. Oil also edged higher, with US crude trading at $60.51 a barrel, up 1%.Markets initially seemed indifferent to what appeared to be a de-escalation of the US-China trade rift by former President Donald Trump, who on social media floated a proposal to slash tariffs on China from 145% to 80%.“80% Tariff on China seems right! Up to Scott B,” Trump posted early Friday, referencing Scott Bessent, his Treasury chief and lead figure in upcoming trade negotiations.Futures for all three major indexes had ticked higher before the opening bell on these developments, with Nasdaq futures up 0.3%, S&P 500 futures rising 0.2%, and Dow futures edging 0.1% higher.Trump’s comments come ahead of a planned meeting in Geneva this weekend between US trade officials, including Bessent and Trade Representative Jamieson Greer, and their Chinese counterparts. Investors are hoping the talks could cool fears about inflationary pressure on consumer goods stemming from rising tariffs.On the data front, China reported April exports rose 8.1% annually, easing from 12.4% in March. However, exports to the US tumbled over 20% as higher American tariffs kicked in, reinforcing concerns over long-term trade friction.Travel stocks were a notable drag in early trading. Expedia slumped 10% after cutting its full-year bookings outlook, citing a 7% decline in US-bound travel, including a 30% drop from Canadian travelers. The soft demand trend was echoed in recent results from Hilton and Airbnb, both of which flagged weaker international bookings.Globally, European markets posted midday gains, with Germany’s DAX up 0.6%, France’s CAC 40 climbing 0.7%, and the U.K.’s FTSE 100 advancing 0.3%. In Asia, Japan’s Nikkei surged 1.6%, while Taiwan’s Taiex jumped 1.8%. India’s Sensex was the regional laggard, falling 1.1% amid escalating tensions with Pakistan.In the bond market, the yield on the US 10-year Treasury eased slightly to 4.371%. The dollar index weakened, while the euro firmed 0.3% to 1.126. Meanwhile, market volatility cooled, with the VIX down 1.47% to 22.15.
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