Newscasts - Wall Street ends higher as investors digest Trump trade comments

Western Alliance Bancorporation

17/10/2025 23:11

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_x1g8hvlg&referenceId=tag:reuters.com,2025:newsml_RW469517102025RP1_930&pageId=Newscasts
Source: 'Reuters - Business videos'

Description: Wall Street ended higher on Friday as investors assessed U.S. President Donald Trump's latest remarks on China, while quarterly results from regional banks eased concerns about credit risks. Lisa Bernhard has more.

Short Link: https://lseg.group/4okDhxa

Video Transcript:

US stocks closed higher on Friday, with the Dow, S&P 500, and NASDAQ each adding roughly 0.5%. President Trump downshifted his China trade rhetoric on Friday, saying his proposed 100% tariff on Chinese imports would be unsustainable. While Ben McMillan, Chief Investment Officer at IDX Advisors, still believes Trump's tough trade talk is mostly posturing, he does see one key sticking point.

With China in particularly, there's an AI arms race to kind of own as much of that segment as possible. America is definitely in a privileged position, but China is very quickly trying to catch up. With NVIDIA chips and tariffs on specific chips as it relates to AI. I do think that'll be an ongoing kind of source of tension between the two countries.

Among Friday's stock moves, regional banks rebounded with Zions Bancorporation gaining more than 5.5% and Western Alliance adding about 3%. Both had sold off the day before over fears about credit quality. Shares of Eli Lilly fell 2% after Trump said he would bring down prices of weight-loss drugs, and Wall Street's most valuable companies ended mixed, with Tesla rising 2.5%, Apple adding almost 2%, and Amazon falling more than 0.5%.