Wall Street finished firmly higher on Friday, with the S&P 500 and Nasdaq Composite notching fresh record closes despite renewed trade uncertainty.
The Dow Jones Industrial Average rallied 432.4 points, or 1%, to finish at 43,819.3, while the S&P 500 climbed 32.1 points, or 0.5%, to a record 6,173.1. The Nasdaq rose 105.6 points, or 0.5%, ending at an all-time high of 20,273.5.
Equities pulled back from session peaks after United States President Donald Trump announced U.S.-Canada trade negotiations were terminated.
However, optimism returned after Commerce Secretary Howard Lutnick told Bloomberg that a U.S.-China trade framework had been finalised, with further deals expected with 10 key partners.
Markets have staged a dramatic recovery since April, when the S&P 500 was nearly 18% down for the year amid tariff concerns.
The index has since surged more than 20%, now sitting 5% higher year-to-date, buoyed by easing trade tensions, artificial intelligence (AI) led tech gains from companies like NVIDIA and Microsoft, as well as resilient quarterly earnings.
Bond yields ticked higher, with the 10-year and 2-year Treasury yields each up 0.7% to 4.275% and 3.746%, respectively.
