Trump also said sanctions would be imposed on Chinese and Hong Kong officials involved in eroding the city's autonomy.
The Dow Jones Industrial Average eased 17 points to 25383, while the S&P 500 rose 14 points (+0.5%) to 3044 and the Nasdaq 100 jumped 138 points (+1.5%) to 9555.
Source: GAIN Capital, TradingView
Semiconductors & Related Equipment (+2.91%), Pharmaceuticals, Biotechnology & Life Sciences (+1.64%) and Retailing (+1.35%) sectors were the best performers. On the other hands, Banks (-2.61%), Automobiles & Components (-1.67%) and Insurance (-1.07%) sectors lagged behind.
On the technical side, about 43.4% (43.2% in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average, and 92.9% (89.5% in the prior session) were above their 20-day moving average.
U.S. official data showed that Personal Income jumped 10.5% on month in April (-6.0% expected) while Personal Spending fell 13.6% (-12.8% expected). Wholesale Inventories increased 0.4% on month in April (-0.7% expected).
Market News International's Chicago Purchasing Managers Index fell to 32.3 in May (40.0 expected) and the University of Michigan's Consumer Sentiment Index dropped to 72.3 (74.0 expected).
Later today, the Markit U.S. Manufacturing Purchasing Managers' Index (May final reading, 40.0 expected) and the Institute for Supply Management's Manufacturing Purchasing Mangers' Index (43.7 for May expected) will be reported.
Over the weekend, violent protests erupted in cities across the U.S. sparked by the death of George Floyd, an unarmed black man, in the hands of Minneapolis police in Minnesota state. In Monday morning, U.S. stock index futures were under pressure.
European stocks were broadly lower on Friday, with the Stoxx Europe 600 Index falling 1.4%. Germany's DAX lost 1.7%, the U.K.'s FTSE 100 sank 2.3% and France's CAC was down 1.6%.
U.S. Treasury prices rebounded, as the benchmark 10-year Treasury yield declined 5.3 basis points to 0.650%.
Spot gold price was up for a second session as it gain $11 (+0.7%) to $1,729 an ounce.
Oil prices advanced further, as U.S. WTI crude oil futures jumped 5.3% to $35.49 a barrel.
On the forex front, the ICE U.S. Dollar Index slipped 0.1% on day to 98.29.
EUR/USD gained 0.2% to 1.1099, rising for a fourth straight session. Official data showed that the eurozone's core CPI grew 0.9% on year in May (+0.8% expected).