The S&P 500 and Nasdaq notched fresh records as investors dial back worries as a U.S.-China trade deal nears and tensions ease between Iran-Israel. Microsoft and Nvidia also hit records, as Nike shares lead Dow.

In all, the S & P 500 has soared more than 20% since an April low in the wake of Trump's "Liberation Day" tariff announcement. Over that period, the tech-heavy Nasdaq has climbed 28%, while the Dow Jones Industrial Average has jumped 12%.

The US stock market on Friday hit an all-time high, its first since mid-February. It marked the culmination of a remarkable recovery on Wall Street since flirting with bear market territory in early April.