<a href="https://www.thenationalnews.com/business/markets/2024/08/05/stocks-recession-middle-east-war/" target="_blank">US stocks </a>ended higher on Friday on speculation that <a href="https://www.thenationalnews.com/business/economy/2024/11/26/trump-says-he-will-impose-new-tariffs-on-china-canada-and-mexico/" target="_blank">president-elect Donald Trump</a> may temper his trade tariff threats. The Dow Jones Industrial Average closed 0.4 per cent higher at 44,910.65, while the S&P 500 jumped 0.6 per cent to 6,032.38. The Nasdaq Composite rose 0.8 per cent to 19,218.17. "With many US investors still out after being off for Thanksgiving yesterday, the key theme that has emerged in the last few days is the easing of tariff fears," AFP reported, quoting Fawad Razaqzada, market analyst at City Index and Forex.com. Last week, Mr Trump said he will impose an extra 10 per cent tariff on goods from China and a tariff of 25 per cent on all products from Mexico and Canada, saying the additional levies will force America's neighbours to do more to stop migrants and illegal drugs flowing across US borders. Mr Trump campaigned on pledges to introduce sweeping tariffs on allies and adversaries alike, policies, he says, will help pressure companies to restore manufacturing jobs in the US and raise revenue for the federal government. However, tariff threats eased in recent days following a phone call between Mr Trump and Mexican President Claudia Sheinbaum, who afterwards said: "There will not be a potential tariff war." Canadian Prime Minister Justin Trudeau also visited Donald Trump's Florida resort on Friday to meet the US president-elect, according to Reuters. The outcome of the meeting is still not yet known but Canada is a major US trade partner, with the vast majority of its four million barrels per day of crude exports going to the US. Chip companies notched gains, with Nvidia closing 2.2 per cent up, after a news report that President Joe Biden's administration was mulling further curbs on semiconductor equipment sales to China that were less severe than anticipated. "While tariffs do not serve to optimism about lower interest rates, these protectionist policies are likely to ease the burden of competition for domestic US companies," Samer Hasn, senior market analyst at XS.com, said. "This, in addition to the expected broad tax relief and reduced regulatory burdens, should provide a further boost to corporate profitability, which explains the continued gains in markets since Trump’s victory." Global stocks also rose boosted by easing of tariff threat concerns. In Europe, London's FTSE 100 rose 0.1 per cent, Paris' CAC 40 added 0.8 per cent, while Frankfurt's DAX was up 1 per cent when markets closed on Friday. In Asia, Hong Kong’s Hang Seng index edged 0.3 per cent higher and Shanghai’s composite was up 0.9 per cent, with Japan’s Nikkei down 0.4 per cent. Meanwhile, oil prices settled lower on easing Middle East tensions following a ceasefire deal between Israel and Hezbollah, with Brent down 0.46 per cent to close at $72.94 a barrel and West Texas Intermediate trading lower at $68 a barrel.