The Dow climbed 336 points, or 1.4%, on Friday as investors cheered signs of progress on US-China trade talks. The S&P 500 jumped 1.3%, while the Nasdaq gained 1%.
All three major indexes surged nearly 3% on the week. US markets have advanced four weeks in a row, the longest winning streak since the summer.
China-sensitive stocks including Deere (DE), Nvidia (NVDA) and Boeing (BA) posted strong gains on Friday. Tesla (TSLA) plunged 13% after warning of a softer fourth-quarter profit and announcing layoffs. Netflix (NFLX) declined 4% as blockbuster subscriber growth was overshadowed by weaker-than-expected revenue.
US markets will be closed on Monday in observance of Martin Luther King Jr. Day.