The rally was spurred by a better-than-expected report on the U.S. job market and resurgent hope for a ratcheting down in the U.S. trade showdown with China.

Wall Street extended its gains to a ninth straight day Friday, marking the stock market’s longest winning streak since 2004 and reclaiming the ground it lost since President Donald Trump escalated his trade war in early April.

Stocks rose in morning trading on Wall Street Friday following a stronger-than-expected report on the U.S. job market. The S&P 500 gained 1.3%, putting the index on track for a ninth straight day of gains.

Microsoft and Meta Platforms drove Wall Street higher after delivering profits for the start of the year that were even bigger than analysts expected.

U.S. technology-related stocks including many involved in artificial intelligence rose sharply on Thursday following stronger-than-expected results from Microsoft and Meta Platforms, while investors awaited results from Apple and Amazon.