(CNBC) The Dow Jones Industrial Average hit a fresh record high on Friday after White House economic advisor Larry Kudlow said China and the U.S. were getting close to reaching a trade deal.
The 30-stock average closed 221 points higher, or 0.7%. Friday also marked the first time ever the Dow reached 28,000. The S&P 500 and Nasdaq Composite also made new all-time highs, climbing 0.8% and 0.7%, respectively.
Trade-sensitive names such as Caterpillar, Boeing, Apple and Micron Technology all rose at least 0.9%. Gold, meanwhile, fell 0.3% to $1,468.50 per ounce as safe-haven assets pulled back broadly.
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