The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
Wall Street ended the week on a high note Friday as both the S&P 500 and Nasdaq Composite closed at record levels, overcoming a brief sell-off sparked by fresh US-Canada trade tensions.
The S&P 500 gained 0.5 percent to finish at 6,173.07, its first record close since February 19. The Nasdaq Composite also rose 0.5 percent, hitting its first all-time high since December 16, driven by continued enthusiasm for Big Tech and the AI boom.
Stocks briefly turned lower late in the day after President Donald Trump announced the United States was ending trade talks with Canada in response to Ottawa’s new digital services tax. Trump warned new tariffs on Canadian goods would follow within a week.
The news dampened investor sentiment, but the downturn was short-lived. Wall Street rallied again roughly an hour before the closing bell.
The Dow Jones Industrial Average climbed 432 points, or 1 percent, after being up as much as 580 points earlier. The blue-chip index remains about 1,200 points, or 2.7 percent, below its record high.
Shares of UnitedHealth, Apple, Merck and Nike weighed on the Dow’s performance. UnitedHealth has fallen 39 percent so far this year.
The Nasdaq 100, focused on top tech stocks, had already set a new record earlier in the week.
A fragile ceasefire between Israel and Syria, brokered by the U.S. with support from Turkey and Jordan, allows Syrian internal security forces brief a...
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A magnitude 5.2 earthquake struck 56 kilometres east of Gorgan in northern Iran early Sunday morning, according to preliminary seismic data....
President Ilham Aliyev has publicly pressed Russia to admit it accidentally shot down an Azerbaijan Airlines passenger plane in December, an incident ...
Ukraine President Volodymyr Zelensky has invited Russia to hold fresh peace talks next week, calling for urgent progress toward a ceasefire....
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Two Harry Potter actresses, Emma Watson and Zoe Wanamaker, have each received a six-month driving ban after separate speeding offences, both sentenced on the same day at a Buckinghamshire court.
The Shanghai Cooperation Organization’s foreign ministers met in Tianjin on 15 July, laying the groundwork for the upcoming SCO summit set for the end of August.
U.S. markets closed mostly flat Friday, capping a third winning week out of four.
U.S. President Donald Trump signed the GENIUS Act into law on Friday, creating the first U.S. regulatory framework for dollar-backed stablecoins and marking a major win for the crypto industry.
Oil prices edged higher on Friday, heading for a small weekly loss, as investors weighed new European Union sanctions against Russia.
As some top global banks scale back climate efforts, India is moving forward with mandatory rules for lenders to report and manage climate-related financial risks.
The Indian rupee is expected to open stronger on Friday, supported by gains in other Asian currencies and a temporary pause in the U.S. dollar index’s upward trend.
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