Wall Street's main indexes were set for strong weekly gains after signs of a possible detente in U.S. President Donald Trump's trade war with China and his backtracking on threats to fire the head of the Federal Reserve, as well as some upbeat corporate results.

U.S. Treasury Secretary Scott Bessent stated no unilateral tariff reduction offer to China, with trade rebalancing potentially taking 2-3 years. Tech stocks surged as Trump softened his stance on firing Fed Chair Powell, with notable gains in Nvidia, AMD, and Apple.