05:12 PM EDT, 10/17/2025 (MT Newswires) -- US stocks rose Friday, capping off a winning week as trade tensions with China appeared to ease while investors looked past potential credit quality issues at banks.

The Nasdaq Composite and the S&P 500 increased 0.5% each to close at 22,680 and 6,664, respectivley. The Dow Jones Industrial Average climbed by the same percentage to 46,190.6. Barring utilities and materials, all sectors were higher, led by consumer staples.

For the week, the Nasdaq gained 2.1%, the S&P 500 advanced 1.7%, and the Dow added 1.6%.

President Donald Trump told Fox Business that up to 157% tariffs on China are "not sustainable, but that's what the number is." Trump said that he will meet Chinese President Xi Jinping in South Korea in a couple of weeks.

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng were scheduled to speak by phone Friday to discuss the ongoing trade talks between the two global economic giants, CNBC reported, citing a senior Trump administration official.

Last week, Trump threatened China with steep tariff increases after Beijing moved to expand its rare earths export controls. On Thursday, a Chinese Ministry of Commerce spokesperson reportedly said Beijing's decision was a legitimate move and was meant to prevent rare earths' illegal outflow and misuse.

"Equity markets finished the week in positive territory, but only after stepping back on concerns ranging from US-China trade to credit quality," Robert Kavcic, senior economist at BMO Capital Markets, said in a report. "Last Friday's threat by the US administration of 100% tariffs on China has been talked down somewhat, although the (Nov. 1) date is still keeping the market on edge."

The higher tariffs on Chinese goods are scheduled to take effect on Nov. 1.

US Treasury yields were higher, with the 10-year rate increasing four basis points to 4.01% and the two-year rate gaining 3.9 basis points to 3.47%.

Fifth Third Bancorp ( FITB ) , Huntington Bancshares ( HBAN ) , and Regions Financial ( RF ) provided upbeat views on credit quality, helping ease broader concerns over bad loans at US banks.

Fifth Third rose 1.3%, while Huntington shares were up 0.9%. Regions Financial ( RF ) gained 1%.

On Thursday, regional bank stocks came under pressure over credit worries sparked by disclosures from Zions Bancorporation (ZION) and Western Alliance Bancorp ( WAL ) .

"Broad-based credit trends remain stable across industries and geographies," Fifth Third Chief Financial Officer Bryan Preston said Friday during an earnings conference call, according to a FactSet transcript. Huntington's executives seemed to share that sentiment.

American Express ( AXP ) raised the bottom end of its full-year outlook as the payments company's third-quarter results surpassed market estimates amid card member spending growth. Its shares jumped 7.3%, the top gainer on the Dow and the second-best performer on the S&P 500.

Oracle (ORCL) was the second-worst performer on the S&P 500, down 6.9%.

The cloud computing company said on Thursday it was aiming for earnings of $21 per share by fiscal 2030 and $225 billion in revenue. UBS Securities said Friday that Oracle's long-term outlook may have disappointed some investors, but there are reasons to own the stock.

The company is targeting $166 billion in cloud infrastructure revenue by 2030, which is $22 billion higher than the previous target, according to the brokerage.

"Oracle and its customers need to deliver, but we remain buy-rated on a belief that the stock can move higher as it executes on this guide acceleration," UBS analysts said, referring to Microsoft ( MSFT )-backed (MSFT) OpenAI, Meta Platforms ( META ) and xAI as Oracle's clients.

West Texas Intermediate crude oil up 0.4% at $57.68 a barrel in Friday late-afternoon trade.

A US federal government shutdown entered its 17th day Friday, delaying housing starts and industrial production data for September.

The Senate is next scheduled to vote on a funding bill Monday, USA Today reported. By then, the shutdown would become the third-longest in history, according to the report.

Gold was down 1.4% at $4,246.30 per troy ounce, while silver slumped 5.2% to $50.51 per ounce.