Stock market hits record highs fueled by tech and trade deal, uncertainty looms ahead of jobs report

On Wednesday, Wall Street hit record highs, driven by tech stocks and news of a U.S.-Vietnam trade deal. The U.S. dollar strengthened, while UK assets faced pressure amid fiscal concerns. Oil prices rose as Iran suspended nuclear cooperation, and gold prices increased on weak job data.

Investors await Thursday’s U.S. employment report for June after weak private payroll data. Economists expect an increase of 110,000 jobs and a 4.3% unemployment rate. A disappointing report could boost expectations for interest rate cuts, with September seen as likely for the next cut.

President Trump announced a trade deal with Vietnam imposing 20% tariffs on exports, lifting shares of apparel makers. The House debated Trump’s tax-cut and spending bill, adding $3.4 trillion to the national debt. Markets will close Thursday and Friday for the holiday, with key economic data expected.

Upcoming market movers include US employment data, ISM services, factory orders, and a speech by Fed Atlanta President Bostic. Analysts expect continued market volatility as investors digest economic data and policy developments. Stay informed with Trading Day updates from Reuters News.

Read more at Yahoo Finance: Get ready for the jobs report