The Dow Jones Industrial Average in late-afternoon Friday trade jumped to session highs amid reports that the U.S. and China are setting the stage to end a contentious multibillion-dollar tariff dispute by November, according to the Wall Street Journal. The Dow DJIA, +0.43% was trading 150 points, or 0.5%, at 25,685, the S&P 500 index SPX, +0.33% climbed 0.4% at 2,850, while the Nasdaq Composite Index COMP, +0.13% also drifted into positive territory, after lagging behind its peers earlier in the session. The Nasdaq was up 0.1% at 7,814. All three benchmarks were trading at their best levels for Friday, extending a powerful rally ignited on Thursday, sparked by news that Beijing and Washington had agreed to resume trade negotiations next week. The coming negotiations are intended to set the stage for multilateral summits between President Trump and Chinese leader Xi Jinping in November, according to WSJ.

Dow logs highest close since February on optimism over trade talks

U.S. stocks gain for a second session Friday with the Dow Jones Industrial Average closing at its highest since February as optimism that the U.S. and China will eventually resolve their trade standoff offset fears about Turkey’s currency crisis.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Dow jumps to session peak amid report that U.S.-China map out plan to end trade impasse by November