The S&P and the Nasdaq each rose 0.5% for the day, closing out a tumultuous session driven by trade headlines. Stocks faltered earlier Friday afternoon, after President Donald Trump announced the U.S. is shutting all trade discussions with Canada, in retaliation to Canada's decision to proceed with a tax targeting U.S. technology companies like Meta. Trump, in a post on Truth Social, said the U.S. will decide the tariff rate on the Canada in the next seven days, essentially shutting down negotiations with a top trading partner.
