S&P 500 rises on trade optimism, heads for strong weekly gains

The and rose on Friday as investors cheered renewed optimism on the U.S.-China trade front. Wall Street also headed for strong gains for the week.

Gains in the tech and materials sectors pushed the S&P 500 up 0.2 percent. Tech shares also bolstered the Nasdaq, which climbed 0.5 percent. The was down 11 points, however, as Boeing shares lost more than 1 percent.

The S&P 500 and Nasdaq‘s advances were kept in check, however, after data showed industrial production rose 0.1 percent in February. Economists polled by Dow Jones expected an expansion of 0.3 percent.

Equities headed for strong weekly gains on Friday as the S&P 500 and Nasdaq Composite were up more than 2 percent each through Thursday‘s close. The Dow was up 1 percent, lagging its large-cap counterparts as steep losses in Boeing weighed on the 30-stock index.