scoring their biggest monthly percentage gains since November 2023, thanks to softening of Trump's harsh trade stance and upbeat earnings reports.
The S&P 500 hit its highest in over three months on Friday and remains nearly 2.2% below record highs touched in February. The Dow index also rose to a near three-month high.
The economically sensitive Russell 2000 smallcap index gained 1.3%.
The Cboe Volatility Index, known as Wall Street's "fear gauge," fell 1.19 points to 17.29, its lowest in over two months.
At 10:24 a.m. ET, the Dow Jones Industrial Average rose 541.42 points, or 1.28%, to 42,861.16, the S&P 500 gained 69.27 points, or 1.16%, to 6,008.45 and the Nasdaq Composite gained 246.51 points, or 1.28%, to 19,544.96.
All of the 11 major S&P 500 sub-sectors rose, led by communication services with a 1.9% rise, while technology stocks gained 1.1%.
Shares of Tesla rose 3.9% after plunging about 15% on Thursday following Trump's public feud with Musk, including threats to cut off government contracts with Musk's companies.
Other megacap companies including Amazon was up 1.9%, while Alphabet gained 2.8%.
Broadcom shares fell 3.3% after the networking and custom AI chipmaker's quarterly revenue forecast failed to impress investors.
Lululemon shares lost 20.4% as the sportswear maker cut its annual profit target, citing higher costs from Trump's tariffs.
Shares of virtual document signing platform DocuSign fell 18.9% after first-quarter results.
Advancing issues outnumbered decliners by a 2.7-to-1 ratio on the NYSE and by a 2.82-to-1 ratio on the Nasdaq.
The S&P 500 posted 20 new 52-week highs and no new lows, while the Nasdaq Composite recorded 47 new highs and 24 new lows.
