US stocks finish higher, post large monthly gains

Most US stock indices rose on Friday, as President Donald Trump didn't  impose tariffs against China despite imposing sanctions against some Chinese officials.

Trump blamed China for the spread of the coronavirus, adding that many countries around the world, including the US, are still waiting for answers.

Trump also imposed sanctions on officials from Hong Kong and Beijing due to China's decision to  to curb Hong Kong’s autonomy, and ordered US financial regulators to track all Chinese firms listed on U.S. stock markets.

The US consumer confidence index rose to 72.3 points in May vs. 71.8 in April, to beat forecasts of 73.7 points, while the personal spending fell 13.6% in April.

Federal Reserve Chairman Jerome Powell warned of a second wave of the coronavirus in the US after reopening the economy.

To the oil market, West Texas Intermediate crude rose 5.3% to close at $35.49 a barrel, and posted weekly gains of 6.7% and its largest ever monthly gains of 88.4%, after it hit an intraday high of $33.8 and a low of $32.3.

Brent rose 0.1% to $35.33 a barrel, and posted weekly gains of 0.6% and the monthly gain the largest since 1999 of 39.8%, with a high of $35.1 and a low of $34.06.

As for stocks, Dow Jones slipped less than 0.1% or 17 points to close at 25,383, and posted a weekly gains of 3.8% and monthly gains of 4.3%, after it hit a day high 25,482 and a low 25,031.

Nasdaq rose 01.3% or 121 points to 9,490 points, and registered weekly gains of 1.8% and monthly gains of 6.8%, with a high of 9,505 and a low of 9,324.

S&P 500 rose 0.5% or 14 points to 3,044, and posted 3% gain this week and 4.5% during May, with a high of 3,049 and a low of 2,998.