Stocks rose on Friday, adding to solid weekly gains, but their rise was kept in check amid increasing tensions between the U.S. and key trade partners as the G-7 summit kicked off.
The Dow Jones industrial average closed 75.12 points higher at 25,316.53, as UnitedHealth and Home Depot contributed the most to the gains. The S&P 500 gained 0.3 percent to 2,779.03 as consumer staples rose more than 1 percent. The Nasdaq composite closed 0.1 percent higher at 7,645.51.
For the week, the major averages all rose at least 1.2 percent.
On Friday, President Donald Trump arrived at the meeting, along with other world leaders — including those who currently govern nations that Trump has inflicted tariffs upon.
One aspect that's put investors on edge is a fresh tweet by Trump, in which he accused France and Canada of levying "massive tariffs" and establishing "non-monetary barriers."
This came after French President Emmanuel Macron told reporters that while the U.S. incumbent may not mind being isolated, the other leaders could sign a six-country agreement if needs be.
This is "historically unprecedented," Benn Steil director of international economics at the Council on Foreign Relations, told CNBC's "Squawk on the Street" on Friday. "This G-7 summit is really shaping up to be more of a G-6 tribunal with America in the docket."
"We are moving in the direction of a trade war. It's really quite remarkable. Despite the fact that the president's advisors have identified China as the villain of the peace on trade, Trump's tariffs disproportionately hit America's G-7 allies," Steil said.