S&P 500, Nasdaq close up on Vietnam trade deal, tech stocks
The S&P 500 and Nasdaq closed up on Wednesday, lifted by gains in tech stocks and news of a trade agreement between the U.S. and Vietnam that helped ease concerns about an extended trade war.
Nasdaq rose, boosted by Nvidia, Apple, and Tesla.
Investors will look ahead to the non-farm payrolls report on Thursday for clues on how soon the Federal Reserve could lower borrowing costs.
Trump's massive tax-and-spending bill headed to the U.S. House of Representatives for possible final approval after the Senate passed the legislation. Nonpartisan analysts say it will add $3.4 trillion to the national debt over the next decade.
Markets opened lower after data showed U.S. private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought.
According to preliminary data, the S&P 500, gained 29.28 points, or 0.47%, to end at 6,227.29 points, while the Nasdaq Composite, gained 190.24 points, or 0.94%, to 20,393.13. The Dow Jones Industrial Average, fell 8.70 points, or 0.02%, to 44,486.24.
The U.S. and Vietnam struck a trade agreement that sets 20% tariffs on many of the Southeast Asian country's exports.
The Trump administration has teased that a deal with India is also coming soon, but has said others may not be ready by July 9.
Source : Reuters
