Dow Breaks 200 Points, S&P Sets Record! But How Come?
US stocks rose sharply on Monday (06/30), continuing the positive trend from the previous week. The S&P 500 and Nasdaq 100 indexes each rose about 0.5% and set new record highs, while the Dow Jones strengthened more than 200 points. This increase occurred because the market welcomed the US government's softer stance on trade tariffs.
The White House announced that the US and China have agreed to prevent the return of a massive tariff war, including high levies of up to 145%. President Donald Trump also signaled that the July 9 deadline for imposing additional tariffs could be extended, while expressing optimism that a major trade deal would be reached in the near future.
Other positive news came from Canada, which repealed the digital tax service, pushing US technology stocks up. Meta and Alphabet each rose 1%, while Juniper Networks jumped 9% after the US Department of Justice lawsuit related to its acquisition by HP was settled. Markets are now starting to focus on the possibility of a rate cut by the Fed as the next driving factor.
Source: (ayu-newsmaker)
