The S&P 500 extended its rally for a fourth straight session, rising 4.5% this week amid easing U.S.-China trade tensions and encouraging inflation data. The Dow Jones gained 2.6%, while the tech-heavy Nasdaq surged over 6%. Callie Cox of Ritholtz Wealth Management described the rally as a “sigh of relief” following the U.S. decision to lower tariffs on China. While uncertainties remain about long-term tariff effects, markets appear driven by policy signals over economic data for now.

Points to Know Before Market Opens                                                         

President Trump announced a deal allowing the UAE to purchase U.S.-made AI chips, including 500,000 Nvidia H100 units annually, supporting data center development and AI model advancement in the Gulf nation.

UnitedHealth Group shares tumbled 10% after reports of a DOJ criminal probe into its Medicare Advantage practices. The company denied receiving official notice and defended its program’s integrity.

Dick’s Sporting Goods is acquiring Foot Locker for $2.4 billion, combining major sports retailers. Despite Foot Locker’s recent struggles, Dick’s says it’s confident in turning the business around.

Charter and Cox have agreed to merge in a $34.5 billion deal. Cox will hold a 23% stake in the new entity, with Spectrum as the primary consumer brand.

The 10-year Treasury yield decreased by 0.049 points at 4.408%. The 2-year Treasury decreased by 0.02 points at 3.953%.