Investing.com – U.S. stocks traded higher on Friday, despite increased geopolitical concerns amid U.S. air strikes in Syria while weaker than expected Nonfarm payrolls data failed to weigh on sentiment.
U.S. stocks started the session on the back foot, as a flight to safety, decreased demand for risk assets, after news broke that the United States launched cruise missiles at an airbase in Syria.
Losses were short lived, as U.S. stocks turned positive, after the US unemployment rate fell to a 10-year low while comments from New York Fed President William Dudley boosted sentiment.
The Bureau of Labor Statistics reported Friday, Nonfarm payrolls grew by just 98,000 in March, well below expectations of 180,000, but the unemployment rate fell to a 10-year low of 4.5%.
New York Fed President William Dudley said Friday, the U.S should consider small adjustments to the Dodd-Frank law that toughened rules and oversight for financial institutions.
“It is entirely appropriate to take a critical look at the changes that were made to the regulatory regime," Dudley told the Princeton Club of New York on Friday.
Meanwhile, the final day of a two-day summit between U.S. President Donald Trump and Chinese President Xi Jinping remained front and center, as a number of sensitive topics are expected to be discussed including North Korea and trade.
Elsewhere, energy stocks received a boost, as oil prices remained on track to settle higher for a fourth straight session.
On the New York Mercantile Exchange crude futures for May delivery gained 47 cents to trade at $52.17.
The Dow Jones Industrial Average traded 0.27% higher at 20,718. The S&P 500 added 0.20% and the Nasdaq Composite gained 0.18% to 5878.95.