S&P 500 reaches record highs amid trade and debt concerns

From Investing.com: 2025-07-01 09:33:00

U.S. stocks opened slightly lower on Tuesday following a record run, as attention shifts to trade talks and Senate vote on Trump’s tax and spending bill. The S&P 500 and NASDAQ rose to record highs on Monday, with hopes of more trade deals and rate cuts. The Senate is still voting on amendments to Trump’s bill, which could add $3.3 trillion to the debt. Trade deals with Japan remain incomplete, and Trump is frustrated. U.S. data is in focus, with the ISM non-manufacturing survey expected to rise. In corporate news, Tesla drops after Trump criticizes CEO Musk. Meta trades near record highs after restructuring its AI group.

The S&P 500 hits fresh record highs, with potential consolidation ahead. Support levels are at 6150 and 6050. The USD falls amid policy uncertainty, while the EUR/USD rises to four-year highs. GBP/USD is boosted by USD weakness. Oil prices hold steady ahead of the OPEC+ meeting, with expectations of a production hike. Investors are watching Trump’s July 9 deadline closely for clues on demand outlook.



Read more at Investing.com: S&P 500 Nears Exhaustion as Trade and Debt Risks Converge This Week