Stocks reach record highs as Trump trade fears ease on Wall Street

The S&P 500 hit a record high Friday, rebounding from this spring’s selloff triggered by President Trump’s tariff plans. The index rose 0.5%, surpassing its February peak, while the Nasdaq and Dow also gained. Markets recovered after Trump scaled back and delayed broad tariffs he announced in April, though higher rates remain on Chinese goods and select imports. A new U.S.-China agreement is easing some trade restrictions, The Hill has reported. Meanwhile, inflation data showed prices rising faster than expected in May, dimming hopes for a near‑term Federal Reserve rate cut.