US shares rise on optimism over US-China trade relations

Reuters reports that global shares hit record highs on Friday as investors grew more optimistic amid signs of progress in trade talks between the US and China. 

The S&P 500 and Nasdaq soared to all-time highs, partly driven by gains in market capitalization for stocks like Nvidia, Alphabet, and Amazon. Both indexes are up about 5% this year, despite volatility in the first half of the year caused by American President Donald Trump’s tariff announcements.

At the end of last week, the Nasdaq Composite rose 0.52% to 20,273.46, the S&P 500 gained 0.52% to trade at 6,173.07, and the Dow Jones Industrial Average surged 1% to 43,819.27, Reuters says.

Investor sentiment improved as the US and China stroke a deal on Thursday to accelerate shipments of rare earth metals to the United States. Market participants considered it a sign of easing tensions in trade relations between the world's two largest economies, the news agency states.

Meanwhile, the greenback was trading at multi-year lows. The dollar index fell 0.03% on Friday, holding near a record low in over three years.