Wall Street closed a week of gains driven by optimism over easing US-China trade tensions and moderated rhetoric from former President Donald Trump. The New York Stock Exchange (NYSE) and major indices, including the Dow Jones Industrial Average, extended their rally for a fourth consecutive day, with the Dow rising by approximately 20 points. Despite this short-term upward momentum, broader market performance for 2025 remains negative, with the Dow down 5.7%, the S&P 500 down 6%, the Nasdaq down 10%, and the Russell 2000 down 12.2%. Meanwhile, market volatility, measured by the VIX index, has increased by 43.2%. Trading volumes were lower during the recent gains, and the Nasdaq saw minor net new lows even as the NYSE recorded modest net new highs. Investors continue to digest corporate earnings amid hopes for progress in tariff negotiations between the US and China, contributing to the market's cautious optimism.