US stocks rose to a fresh closing high on Friday, capping a stunning rebound from a sell-off sparked by Donald Trump’s initial tariff announcements in April.
Wall Street’s S&P 500 ended the session up 0.5 per cent despite the US president halting trade talks with Canada. The index had been up as much as 0.8 per cent earlier, reaching a new record intraday peak for the first time since February.
A US-brokered ceasefire in the conflict between Israel and Iran has boosted equities during the course of the week, easing investors’ concerns about a potential disruption to the flow of oil exports from the Middle East. Trump also said on Thursday the US and China had “signed” a trade truce.
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