The stocks in the United States saw a jump as it closed at a new record high on Friday even after doubts were cast by President Trump on the progress of the conclusion of trade deal with China after the wave of optimism where it was perceived that the dispute was bound to end this week had seen a rally in this week.
The Dow saw a gain for the third consecutive week while S&P 500 index saw gains for the fifth week running as the reporting of third quarter earnings in the United States came to an end.
On Thursday, S&P 500 and Dow had both posted record highs at the close and the Nasdaq Composite had seen its second highest closing in its history as per the market data from Dow Jones.
In this week, Dow saw an addition of 1.2% while S&P 500 saw gains of 0.8 % and at the same time NASDAQ saw an advance of 1 %
On Friday, the stock markets saw a rally into the close even though there were doubts about the United States to do away with the import duties in stages as part of the China trade pact after it was told by President Trump that such measures had not been approved by him.
A senior trade adviser had said on late Thursday that no formal agreement had been in place and the final decision is going to lie with the President.
However the latest doubts had not been able to bring down the overall rally in stock markets this week after the Chinese commerce ministry said that an agreement was achieved for jointly eliminating a few of the tariffs in parts.