Both the S&P 500 index and the Nasdaq appear headed to close out the week at record highs Friday, as investors shrugged off trade tensions and recent fighting in the Middle East.
The S&P 500 index — which represents the largest and best known companies in the stock market — hit a new record high as soon as trading opened on Friday, reversing a spring slump tied to President Trump’s trade war.
Investors have also shrugged off recent fighting in the Middle East, to send the S&P 500 index towards a fresh peak, eclipsing the previous high reached back in February.
It’s a remarkable turnaround for stocks, given that the index had fallen into bear market territory less than three months ago.
In April, the index dropped 20% from its February high, after the president announced double-digit tariffs on nearly everything the U.
