Reports that the US President Donald Trump was preparing to go ahead with tariffs on additional $200 billion worth of Chinese imports, as early as next week, dampened investors' appetite for perceived riskier assets - like equities.
USA stocks opened lower on Friday for a second day in a row, as concerns about the ongoing trade talks between the United States and other major economies hampered a record rally for the major indexes.
Canadian Foreign Minister Chrystia Freeland said, "We're not there yet" and added the country was looking for a good deal, not any deal, while Trump is reported have said that any trade deal with Canada would be "totally on our terms", according to the Toronto Star.
The Nasdaq is up 142.39 points, or 1.8 percent.
"A rally in tech stocks led the Nasdaq Composite and S&P 500 to record highs, with Amazon, Alphabet and Apple leading the gains".More news: Lenovo unveils the new Yoga C930 convertible with integrated pen
Capping a low-volume, late-summer week marked by tariff-related volatility, all three major USA indexes posted net gains for the period.
The heavyweight financials sector slipped 0.2 percent.
Copper prices declined 0.6 percent to $6,027.5 a ton.
The most active companies traded on the market are Aurora Cannabis Inc., falling 3.1 percent to 8.79 Canadian dollars on 19.9 million shares and Aphria Inc. down 1.78 per cent to 16.01 Canadian dollars on 17.8 million shares while Cronos Group Inc., tumbling 28.1 percent to 11.77 Canadian dollars on 14.7 million shares.
Shares of gun maker American Outdoor Brands were the top percentage gainer on the Nasdaq.
Advancing issues outnumbered decliners for a 1.16-to-1 ratio on the NYSE and a 1.41-to-1 ratio on the Nasdaq.