US stocks opened mixed, with trade-sensitive industrials rallying on hopes of easing tensions with China, while Apple’s poor forecast hit tech-heavy indexes. The dollar erased losses and Treasuries fell after US hiring rebounded more than forecast in October.

The S&P 500 climbed for a fourth day, though an overnight rally in futures that topped 1 percent on the trade hopes got cut by a jobs report that also indicated annual wage gains topped 3 percent for the first time since 2009. The Nasdaq 100 fell as Apple tumbled after underwhelming sales forecasts. The 10-year Treasury yield hit 3.17 percent and the dollar came off its lows as investors speculated the Federal Reserve won’t be deterred from its rate-hike path.

“The numbers were strong across the board," said Peter Tchir, head of macro strategy at Academy Securities Inc. “Bond have to sell off this given the economy is showing strength and wages are good. For the Fed, this keep them on course with their tightening."

The Stoxx Europe 600 Index headed for its best week in two years and equities from Hong Kong to Tokyo surged, taking gains on the MSCI Asia Pacific Index to 5 percent for the week. Emerging-market shares jumped the most since March 2016, while currencies from South Korea to Australia joined the rally. The euro gained.

Prospects for easing protectionist tensions are helping round out a week that’s seen appetite for risk assets return following the October rout in equities. Doubts remain, though, on the capacity of earnings to deliver. Apple’s disappointing forecast for the key holiday period suggested weaker-than-expected demand for the company’s pricier new iPhones. Next up is mid-term elections next week. Analysts also doubted the Trump administration’s ability to end the trade tensions any time soon.

“Either President Trump is paving the way for a trade deal being agreed at the Buenos Aires G-20 summit later this month, or he’s cynically driving up equityindices ahead of U.S. mid-terms," said Kit Juckes, the London-based global fixed-income strategist at Societe Generale SA. “What’s for sure, is that talk of a trade deal has added further juice to the last few day’s risk appetite."

Talks between the U.S. and China may not be straightforward, with intellectual property theft still a stumbling block. A Chinese state-owned company was charged Thursday with conspiring to steal trade secrets from American chipmaker Micron Technology Inc. as the Justice Department steps up actions against the Asian nation in cases of suspected economic espionage.

Meanwhile, WTI extended a decline as fears over a supply disruption eased after the U.S. was said to agree on giving waivers to eight nations to continue importing Iranian crude. Bloomberg’s gauge of industrial metals extended a rebound from a 15-month low as copper, zinc and nickel led gains in other raw materials.