The S&P 500 and Nasdaq notched fresh records as investors dial back worries as a U.S.-China trade deal nears and tensions ease between Iran-Israel. Microsoft and Nvidia also hit records, as Nike shares lead Dow.

In all, the S & P 500 has soared more than 20% since an April low in the wake of Trump's "Liberation Day" tariff announcement. Over that period, the tech-heavy Nasdaq has climbed 28%, while the Dow Jones Industrial Average has jumped 12%.

US stocks jump on trade deals, tame May inflation, and better consumer vibes. S&P 500, Nasdaq hit record highs despite the end of Canada trade talks.