US stocks rose on Friday, notching weekly wins across the major averages after an easing in US-China trade tensions. Investors also eyed President Trump's sweeping tax and spending bill, which failed to clear a key hurdle Friday,

Investors were in a laid-back mood at the end of what's been a stellar week for the stock market. The Cboe Volatility Index, a widely-followed fear gauge that trades under the ticker VIX, fell 0.6% to 17.

Wall Street is heading toward the finish of a strong, potentially perfect week as U.S. stocks on Friday drift close to the all-time high they set just a few months earlier, though it may feel like an economic era ago.