S&P 500 closes at record high amid global trade standoff

The S&P 500 closed at a record high on Friday, despite President Donald Trump announcing the termination of trade negotiations with Canada.

The index closed out the week at 6,173.07, up 0.52% from the day prior. The close completed the index's rebound from an early April dip due to Trump's announcement of "Liberation Day" tariffs.

The Nasdaq also closed up 0.52% at 20,273.46, while the Dow Jones surged 1.00% to 43,819.27.

Those closes came despite Trump's cancellation of Canadian trade negotiations over Ottawa's imposition of a "digital services tax" on American firms.

"Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately," he said. "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period. Thank you for your attention to this matter!"