Japan's $550 billion investment package agreed in this week's U.S. tariff deal could help finance a Taiwanese firm building semiconductor plants in the U.S., Japan's top trade negotiator Ryosei Akazawa said on Saturday.

European Commission President Ursula von der Leyen is set to meet with President Donald Trump this weekend in Scotland to discuss trade.

Among the strongest performers, Thermo Fisher Scientific rose 12%, topping the leaderboard for large-cap stocks, followed by T-Mobile US, up 9%.

Investors are hopeful a potential trade deal between the U.S. and European Union could bring more certainty to markets ahead of next Friday's tariffs deadline.

The agreements have been overshadowed by U.S. firms' warnings that the tariffs will affect their bottom lines and prolong uncertainty in the economy.

Nearly every member of the European Union supports a plan to hit back against President Trump’s tariffs if no agreement is reached.

President Trump has threatened to impose a 30% tariff on imports from the European Union's 27 member countries if no trade deal is reached by Aug. 1.

Pakistani Foreign Minister Ishaq Dar said his country was "very close" to a trade deal with the U.S., but officials in Washington did not mention any timeline.