The stock market is rallying as AI spending and Trump tariff news turn positive. Warren Buffett will step down as Berkshire Hathaway CEO at year-end.

EDT, the S&P 500 gained 1.58%, the Dow Jones Industrial Average rose 1.49%, the Nasdaq Composite surged 1.76%.

The Dow, S&P 500, and Nasdaq all rose Friday as the stock market focused on a stronger-than-expected April jobs report and China-U.S. trade hopes.

Japanese Finance Minister Katsunobu Kato drew attention by mentioning that the country’s more than $1.1 trillion in U.S.