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The Dow was up more than 100 points, or 0.4% early in the session. The S & P 500 was also slightly higher.
But CNBC denied this story, reporting that a White House official would have said "that there is still a long way to go" before an agreement with China is reached.
Despite contradictory reports on US trade talks with China, investors continued to applaud Washington's news – the jobs report in October.
The US economy created 250,000 jobs last month and the unemployment rate remained stable at 3.7%, its lowest level in nearly half a century. American workers also had more good news. Wages were up 3.1% from a year ago.
The rise in wage growth could possibly raise more fears that the Federal Reserve is increasing its rates more aggressively in order to fight against inflation. But investors seemed to ignore these worries Friday. Bond yields rose only slightly after the jobs report.
Tony Bedikian, general manager and head of global markets for Citizens Bank, said the employment figures were a "coup de circuit" and that he thought investors were now considering higher wages as an asset, instead of fearing what they could mean for the Fed's rate hike.
"The market is anticipating stable wage increases.They are in good health.The workers are able to spend more because they have more in their pockets," Bedikian said. "It's hard to find red flags in job numbers."
At the news of the company, the Nasdaq, very technology-driven, has lost about 0.5%. This is largely due to the fact that Apple (AAPL) – which is also one of Dow's largest components – fell 6% following the release of its latest earnings report. Apple has published somewhat lukewarm outlook for the next few months.
China's online trading giant, Alibaba (BABA), fell slightly after exceeding profit forecasts. But the company has lowered its outlook for 2019, due to the uncertain situation of the global economy.
Despite this, other blue chip companies posted solid results. Oil giants Exxon Mobil (XOM) and Chevron (CVX) both jumped more than 2% after posting strong earnings gains ahead of Wall Street forecasts.
And the Starbucks Coffee King (SBUX) climbed 8% after posting solid sales and profits after the market closed on Thursday.
But not all consumer businesses are doing well. Kraft Heinz (KHC), which owns a significant share of Warren Buffett's Berkshire Hathaway (BRKB), plunged 9% as profits fell short of expectations.
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