US Stock Markets Hit Record Highs Amid Trade Deal Optimism, Tech Surge

The S&P 500 and Nasdaq Composite indices both reached unprecedented highs on Friday, signaling a strong close to the trading week. The tech-heavy Nasdaq was particularly buoyed by stellar performances from industry giants Nvidia and Microsoft, both of which also achieved all-time record valuations.

Market sentiment received a significant boost from positive developments on the trade front. China announced the finalization of its trade deal with the United States, alleviating concerns. Furthermore, President Donald Trump hinted at a potential pause in the re-implementation of his ‘reciprocal’ tariffs, suggesting flexibility despite a looming deadline. This prospect of tariff relief significantly cheered investors.

However, the market’s gains were somewhat tempered later in the day after President Trump reportedly halted trade discussions with Canada over its digital services tax. While this news caused a slight dip, shaving off some of the day’s gains, investors largely absorbed the development, and the indices maintained their record-breaking positions.

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