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U.S. stocks ended more than 1% higher on Friday though well off the day's highs after the announcement of a partial trade deal between the United States and China.

The United States and China agreed on Friday to the first phase of a deal to end a trade war, prompting President Donald Trump to suspend a threatened tariff hike, but officials said the agreement had to be put on paper and more work was required to get it finalized.

U.S. stocks ended more than 1% higher on Friday, but below their session highs, after the announcement of a partial trade deal between the United States and China.

President Donald Trump said on Friday the United States and China had come to a substantial phase-1 trade deal, reaching agreement on intellectual property, financial services and big agricultural purchases.

The United States and China agreed on Friday to the first phase of a trade deal covering agricultural purchases, currency and some aspects of intellectual property protections, and averting a threatened tariff hike, but President Donald Trump said more needed to be negotiated.

American Airlines Group Inc said on Friday it is negotiating a possible partnership with Brazil's Gol Linhas Aereas Inteligentes SA .

Citibank has agreed to pay a $30 million fine to settle charges of repeated violations of real estate holding rules and for failing to meet its commitment to take corrective actions, the U.S. Office of the Comptroller of the Currency (OCC) said on Friday.

A U.S. Bankruptcy Judge signaled support on Friday for a six-month pause to litigation led by 24 states against OxyContin maker Purdue Pharma LP to give the company time to settle thousands of lawsuits alleging it fueled a deadly nationwide opioid crisis.

U.S. stocks rose sharply on Friday as hopes grew that the talks between President Donald Trump and Chinese Vice Premier Liu He would culminate in a partial trade deal and delay planned U.S. tariff increases.

U.S. officials on Friday signaled good news was coming after a second day of trade talks with China ended, boosting investor hopes that the world's two largest economies would agree to cool the fires of their 15-month tariff war.

SpaceX CEO Elon Musk and NASA Administrator Jim Bridenstine spoke during a media briefing at SpaceX headquarters.

Air New Zealand Ltd named Walmart U.S. boss Greg Foran as its new chief executive on Friday, bringing him back home at a time the airline is trying to control costs in a lower-growth environment.

Texas officials managing a sprawling investigation of the advertising practices at Alphabet Inc's Google have begun receiving data from the search and advertising giant after two previous probes bogged down in extended document fights.

On a hot summer morning at Huawei's new European-themed campus outside of Shenzhen, a man resembling a younger version of company founder Ren Zhengfei was dressing down two subordinates.

Walmart Inc said on Thursday its chief executive for U.S. operations, Greg Foran, will leave the company early next year and be replaced by the head of its Sam's Club warehouse chain unit, John Furner.