China's last reduction to its LPRs was in August 2022. Investors have in the past rewarded both parties. Tesla's and Ford’s shares both soared by 4,7% and 6,2% respectively the day after the agreement. Since then, the stock prices of both automakers have risen by more than 25 percent.
CNBC Pro: A veteran investor's fund has outperformed since 2006. Cvetanovski, of Pella Funds Management, managed a fund that beat its benchmark by 27% over a period of four years.
The S&P500 gained 2.6% on the week. This is its best weekly performance since the month of March, and it's the fifth consecutive positive week -- the first time since November 2021 when the S&P 500 ended a similar streak. The Nasdaq, which is dominated by tech stocks, gained 3.25% for the week. This was its highest weekly gain since March. It also marked the eighth consecutive positive week since the end of a 10-week streak back in March 2019.