U.S. Stocks Rally Despite Trade War Worries, Dow Jones Industrial Closes Above 25,000

S&P 500 reaches 5-month high

ABOVE VIDEO: U.S. stocks wrapped a winning week on Friday with the Dow Jones Industrial Average closing above the psychologically significant 25,000-point milestone, a one-month high.

(FOX BUSINESS) – U.S. stocks wrapped a winning week on Friday with the Dow Jones Industrial Average closing above the psychologically significant 25,000-point milestone, a one-month high.

The S&P 500, the broadest measure of stocks, reached a 5-month high and the Nasdaq Composite even better, sitting at a record. A string of new records for some big tech names helped drive the momentum as Amazon, Microsoft, Facebook and Google each hit all-time highs Friday.

Outside of tech, the broader momentum on the final trading day of the week was powered by solid earnings reports from a handful of big banks and easing concerns over a prolonged trade war.

Traders also had some economic data to contend with. The June U.S. import price index fell 0.4% on lower energy and food costs. This was the biggest drop for the index since February 2016. Export prices increased 0.3%.

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