Wall Street ends higher as investors digest Trump trade comments

STORY: U.S. stocks closed higher on Friday, with the Dow, S&P 500 and Nasdaq each adding roughly half a percent.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 particular, 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. [FLASH] 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 half a percent.

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