Wall Street climbs as investors assess trade talks

US stock indices rose during Friday trading as markets closely tracked the latest developments in trade negotiations between the United States and its partners.

Late Wednesday, former President Donald Trump announced a 100% tariff on imported chips, with an exception for companies that "manufacture within the United States."

Trump explained on Wednesday: “We will impose very large tariffs on chips and semiconductors. But the good news for companies like Apple is: if you manufacture in the United States or have firmly committed to doing so, you won’t be subject to any tariffs.”

A report from Bloomberg, citing informed sources, stated that Federal Reserve Governor Christopher Waller has emerged as a leading candidate to succeed the current Fed Chair.

As for trading, by 17:30 GMT the Dow Jones Industrial Average was up 0.5% (215 points) to 44,183, while the broader S&P 500 index rose 0.7% (48 points) to 6,388. The tech-heavy Nasdaq Composite gained 0.9% (187 points) to reach 21,430.