"However, this idea that has been percolating in the market that round the corner, the U.S. maybe looking at recession risk, that makes no sense because monetary policy all around the world are still more accommodative and the USA economy is growing faster than it long run trend and the Fed policy is still accommodative, the real Fed funds rate is barely above zero", Glassman said in an interview with CNBC-TV18.
Volume on USA exchanges was 8.68 billion shares, compared to the 9.14 billion average over the last 20 trading days.
Since hitting a 20-month low on Christmas Eve just a rounding error from levels considered to be a bear market, the S&P 500 Index .SPX has now gained 7.7 percent.
China's Commerce Ministry said trade talks will be held Monday and Tuesday in Beijing, and investors will again look for signs the world's largest economic powers are resolving their dispute.
The Dow Jones Industrial Average on Friday jumped to a fresh peak as a trio of bankers, headlined by current Chairman Jerome Powell, underscored the health of the US economy but also expressed an attentiveness to a market that has grown fragile amid a spate of interest-rate increases. Asked if he had had any face-to-face meetings with Trump, Powell said he had not although he said previous Fed leaders have had discussions from time to time with previous presidents.
Many analysts are girding for a rocky year for markets, owing to the US-China trade war and other unresolved matters, including a government shutdown fight in Washington that President Donald Trump warned Friday could last years as he battles for funding for a border wall with Mexico.
The Nasdaq Composite Index surged 275.35 points, or 4.26 per cent to 6,738.86. Technology companies took their biggest losses in seven years. The week was a volatile one for stocks.
Smaller and more US -focused companies did even better than larger multinationals.
"If we ever came to the conclusion that any aspect of our plans" was causing a problem, he said, "we wouldn't hesitate to change it".
Bond prices also changed course and moved sharply lower. AMD was up 11 percent after being the leading S&P stock previous year.
Stocks in the US were on track to regain most of Thursday's losses.
In Asia, Hong Kong's Hang Seng jumped 2.2 per cent. USA crude futures settled 87 cents higher at $47.96 a barrel, a 1.85 percent gain. Wages and labour force participation both rose, signalling sustained economic strength.
GBP/USD: The pound strengthened against greenback on Friday, as a weaker dollar and optimism for a Brexit deal ahead of Brexit vote supported British pound. U.S. West Texas Intermediate (WTI) crude futures increased 87 cents to settle at $47.96 a barrel, a 1.85 percent gain. Copper rose 3.1 per cent to $2.65 a pound.