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NEW YORK (AP) — Most U.S. stocks ticked higher on Friday, sending Wall Street to more records.

Gold also fell following its stellar rally this year, losing 2.4% to drop back below $4,000 per ounce, while Treasury yields held relatively steady in the bond market. They’re taking a moment following big runs driven in large part by expectations that the Federal Reserve will cut interest rates to support the economy.

U.S. stock index futures rose on Thursday, boosted by strong quarterly update from TSMC that reinforced investor optimism around AI, extending a rally in chip stocks in the previous sessions.

Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America and Citi all posted strong earnings returns — signs a dealmaking wave may be here to stay.

Hours later, Trump posted his less confrontational talk about China on Truth Social. The backtrack in anger, which also came before trading began on Wall Street, raised hopes that the world’s two largest economies could find a way to allow global trade to continue smoothly.

With a temporary victory in hand after getting a tenuous ceasefire in place in Gaza, Donald Trump returned to the U.S., where the government is shut down, the shadow of the Jeffrey Epstein files hovers over him — and now Wall Street investors are being told by a key financial analyst that the U.