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.
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U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
The New York Stock Exchange opened sharply lower on 2 September as investors weighed the legality of Donald Trump’s tariffs – a federal appeals court has ruled most of them illegal.
Large investors, wary of September’s traditional seasonal downturns, moved to lock in profits on Tuesday, according to traders and research firms – a sign that the sell-off in technology shares may reflect a broader retreat from risk.
U.S. stock markets closed higher on Wednesday, with the Nasdaq leading gains after tech giants – particularly Apple – saw strong advances.
Okinawa lost transport links and suffered widespread power outages on Monday (1 June) as Severe Tropical Storm Jangmi brought destructive winds and heavy rain to Japan's south-western islands.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
U.S. Secretary of State Marco Rubio has held talks with Lebanese President and Israeli Prime Minister on efforts to ease tensions between Israel and Lebanon. According to a U.S. official, Washington has proposed a plan aimed at achieving a gradual de-escalation of hostilities.
When Armenians vote on 7 June, they will be voting in an election shaped by months of political change and a rapidly deepening relationship with the European Union. The result may not only determine who governs Armenia but also the future direction of the country's geopolitical alignment.
Unsealed records from the U.S. Department of Justice have renewed scrutiny of lawyer Robert Amsterdam after documents revealed communications between his law firm and Jeffrey Epstein's office. The disclosures have drawn attention because of Amsterdam's prominent role in Armenia.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
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