Markets closed higher on Friday following positive comments from President Trump regarding a resolution of the U.S.-China trade war.

Markets closed higher on Friday following positive comments from President Trump regarding a resolution of the U.S.-China trade war. Meanwhile, the Commerce Department reported that the administration was considering imposing fresh import tariffs on countries engaging in currency manipulation practices. The three major benchmarks closed in the green on Friday. However, the benchmarks posted record losses for the week. Markets were closed on Monday in observance of the Memorial Day. The Dow Jones Industrial Average (DJI) increased 0.4%, to close at 25,585.69. The S&P 500 increased 0.1% to close at 2,826.06. The tech-laden Nasdaq Composite Index closed at 7,637.01, gaining 0.1%. The fear-gauge CBOE Volatility Index (VIX) decreased 1.2% to close at 16.71. Advancers outnumbered decliners on the NYSE by a 4.95-to-1 ratio. On Nasdaq, a 3.94-to-1 ratio favored advancing issues.