New Delhi, June 28 -- US stock market ended higher on Friday, with the S&P 500 and Nasdaq recording their all-time closing highs, lifted by hopes of a US-China trade deal and US Federal Reserve interest rate cuts after soft economic data.

The Dow Jones Industrial Average rallied 432.43 points, or 1.00%, to 43,819.27, while the S&P 500 rose 32.05 points, or 0.52%, to 6,173.07. The Nasdaq Composite closed 105.55 points, or 0.52%, higher at 20,273.46. All three major US stock indexes posted weekly gains.

Among the 11 major sectors of the S&P 500, consumer discretionary was the top gainer, while energy shares were the laggards.

Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched i...