The S&P 500 and Nasdaq Close at Record Highs
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Here's your Closing Bell Brief for Friday, June 27th. I'm Julia Carpenter for The Wall Street Journal. The three major indexes ended the day up, with the S&P 500 and Nasdaq closing at new records. Stocks benefited from traders' hope for more trade deals as the Commerce and Treasury Secretaries say the U.S. is close to securing more of them. The Dow Jones Industrial Average gained 432 points to close at 43,819. The S&P 500 rose 32 points.

And the Nasdaq advanced 106 points. Stocks paired some gains after President Trump said the U.S. is ending trade negotiations with Canada over what he called an, quote, egregious tax on U.S. tech companies. The two countries have been working for months to finalize a trade agreement. For the week, the Dow rose 3.8 percent, the S&P gained 3.4 percent, and the Nasdaq climbed 4.3 percent.

In individual companies trading today, Nike shares advanced 15% after quarterly earnings and sales exceeded expectations. The sneaker giant said it expects tariffs to add $1 billion in costs this fiscal year. Other athletic wear and sporting goods companies benefited from Nike's positive results. Lululemon climbed 1.5%, while Dick's Sporting Goods, Adidas, and Puma all rose 3% or more.

We'll have a lot more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.