On April 9, with the stock market enduring a mini-crash, Donald Trump placed a 90-day pause on reciprocal tariffs for all countries save China. This 90-day pause is what ignited the strongest single-day point gains in the history of the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average.

Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

The S&P 500 and the Dow edged up in tepid trading on Friday as investors assessed President Donald Trump's latest comments on trade discussions with the European Union and his hints that a rate cut from the U.

This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.