Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

Investors are hopeful a potential trade deal between the U.S. and European Union could bring more certainty to markets ahead of next Friday's tariffs deadline.

The U.S. and China have reached an agreement — again — to deescalate trade tensions. China is making it easier for U.S. companies crucial magnets and rare earths materials.

European Commission President Ursula von der Leyen will meet with U.S. President Donald Trump in Scotland over the weekend, seeking to reach a framework trade agreement shortly before a 30% tariff on EU imports comes into effect.

President Donald Trump said Tuesday he and President Ferdinand Marcos Jr. of the Philippines have reached a trade agreement. Shortly after, he also revealed more detailed terms of an agreement with Indonesia.

He’s a wheeler-dealer, our president, needless to say, and he’s kind of cutting these deals — but he has scared these people, and he’s leveraged American bargaining

Whether President Donald Trump will renegotiate the country’s trade agreement with Mexico and Canada remains to be seen, but the threat is already affecting commerce on the border.

WASHINGTON (Reuters) -Pakistani Foreign Minister Ishaq Dar said on Friday the United States and Pakistan were "very close" to a trade deal that could come within days, but comments from the U.S. after Dar met with Secretary of State Marco Rubio mentioned no timeline.