US stocks rose Friday as the Trump administration's plan to roll back financial regulations sparked a rally in bank shares. The US dollar and Treasuries were little changed after a Federal Reserve official's nod in favour of higher rates countered a jobs report that provided cover for the central bank to maintain its current course.
The S&P 500 Index closed within a point of an all-time high, as lenders jumped almost 2 per cent after Donald Trump ordered a review of the Dodd-Frank regulations.
Citigroup rose 3.2 per cent, Wells Fargo lifted 2.7 per cent and Bank of America gained 2.5 per cent. 1
Chinese stocks fell on the only trading day of the week as the central bank raised interest rates in open-market operations. The Shanghai Composite Index retreated 0.6 per cent to 3140.170, led by energy and financial shares. 2
Copper closed down 1.9 per cent at $US5772 a tonne, the weakest since January 23 and the third straight loss.
LME nickel ended 1.6 per cent weaker at $US10,225 a tonne.
Oil headed capped a third weekly gain as OPEC reached about 60 per cent of its output-cut target and the US slapped new sanctions on Iran after a missile test. West Texas Intermediate crude advanced 0.5 per cent to settle at $US53.83 a barrel.
Gold added 0.1 per cent to $US1220.80 an ounce, for a weekly increase of 2.5 per cent as political risk spurred demand for a haven. 3
