London (CNN Business) 1. Dow 27,000: The Dow and the S&P 500 have hit all-time highs. But pockets of anxiety remain.

The Dow on Thursday topped 27,000 points for the first time, while the S&P 500 closed just shy of 3,000 points. Both indexes were driven higher by congressional testimony from Federal Reserve Chair Jerome Powell, who fueled investor optimism that an interest rate cut is coming later this month.

The Nasdaq, meanwhile, closed 0.1% lower. Gains in global markets on Friday have been tepid.

"US-China trade tensions continue to loom over global sentiment," Han Tan, market analyst at FXTM, said in a note. Chinese export growth turned negative in June, according to data released Friday, and imports plunged by more than expected.

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