Wall Street's main indexes opened higher on Friday, building on this week's gains fueled by a U.S.-China tariff truce and tamer inflation data, while a vote on President Donald Trump's sweeping tax legislation was also in focus.

U.S. stocks rose again to close out their winning week. The S&P 500 climbed 0.7% Friday for a fifth straight gain and pulled within 3% of its record set in February.

Wall Street on Thursday rose after President Donald Trump exhorted traders to "go out and buy stock now" following the announcement of a trade deal between the U.S. and the United Kingdom - the first of its kind since Trump's imposition of sweeping reciprocal tariffs in April.