US markets celebrated record highs on Friday, boosted by tariff relief from China and strong tech performances from Nvidia and Microsoft. However, President Trump's abrupt end to trade talks with Canada over a digital services tax caused a slight market dip. While the S&P 500 initially saw gains of up to 0.76%, the news ultimately reduced some of these gains. The future of US tariffs remains uncertain, pending President Trump's decision on a 90-day pause extension.

Prepared by Christopher Adams and reviewed by editorial team.