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.
US markets will be closed on Monday in observance of Martin Luther King Jr. Day.
A dive in consumer expectations may negatively impact consumer spending, which has been robust in recent months — but it will be impossible to know whether that's happening until the government reopens, since the statistics are published by the now-shuttered Bureau of Economic Analysis.
Our Paul R. LaMonica adds that a drop in sentiment isn't necessarily anything to worry about:
Another day, another report on China trade talks that's exciting Wall Street.
Boosted by hopes of progress on the trade war, all three major US indexes have climbed nearly 3% on the week.
Vans sneakers are flying off the shelves. And that's great news for owner VF Corp.
The luxury jeweler says same-store sales declined 2% and global net sales slipped 1% for the last two months of 2018. It blames the drops on fewer sales to foreign tourists and lower demand from local shoppers in the Americas and Europe.
The company says it believes those customers "may have been influenced more than expected by external events, uncertainties and market volatilities.”