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The S&P 500 index closed up 0.5 points, above 6,170, led by tech giants.

The S&P 500 index closed up 0.5 points, above 6,170, led by tech giants.

Wall Street traders avoided a wave of tariff-related headlines, sending stocks to all-time highs, capping a week marked by a slowdown in Middle East risks and signs of resilience in the U.S. economy amid falling inflation. Bonds stalled, and the dollar strengthened.


A strong rebound in stocks, following April's trade-related collapse, propelled the S&P 500 to its first record high since February, closing 0.5% above 6,170.


Tech giants led the advance, with Nvidia approaching $4 trillion and Alphabet rising nearly 3%. Stocks closed higher as the White House hailed progress on trade deals with some countries, despite U.S. President Donald Trump announcing the end of discussions with Canada. The Canadian dollar fell.


US Stock Index Adds $10 Trillion

In April, Trump paused the imposition of tariffs on dozens of US trading partners for three months, a week after announcing them, as markets panicked about the potential for a global recession. Since then, the S&P 500's $10 trillion increase has defied Wall Street expectations, underscoring the economy's resilience in the face of policy uncertainty.


"US stocks have continued to recover from the tariff-induced sell-off in March and April," said David Lefkowitz, chief investment officer at UBS. "We believe this recovery makes sense, given that most large-cap companies will weather the tariffs well."