The S&P 500 hit fresh records on Friday as traders managed to look past new comments from President Donald Trump tied to U.S.-Canada tariffs. The broad market index’s rise to new highs marks a sharp turnaround from the lows seen in April during the height of trade policy tensions.
The benchmark added 0.52% after rising as much as 0.76% to a high of 6,187.68. That move took out the index’s previous record of 6,147.43. The Nasdaq Composite, which also hit an all-time high, rose 0.52%%. The Dow Jones Industrial Average added 432 points, or 1%.
Stocks cooled off from their session highs after Trump said on Truth Social that trade talks between the U.S. and Canada were being terminated. Investors initially bid up equities after Commerce Secretary Howard Lutnick told Bloomberg News late Thursday that a framework between China and the U.S. on trade had been finalized. Lutnick added that the Trump administration expects to reach deals with 10 major trading partners imminently.
Friday’s reversal marks the latest episode in which Wall Street tries to navigate an ever-changing global trade landscape.
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Author: Marty Kaufmann
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