US stocks hit all-time high, with Tesla and Nike leading gains

From Yahoo Finance: 2025-07-02 00:43:00

U.S. stocks reached another all-time high, with the S&P 500 setting a record for the third time in four days. Tesla’s stock rose 5% after delivering more cars than expected, while Constellation Brands climbed 4.5%. However, Centene saw a 40.4% drop due to worse-than-expected sickness trends.

Treasury yields were mixed ahead of a report on job creation. A weak ADP report raised concerns about job losses last month. Uncertainty around Trump’s tariffs could freeze hiring, impacting the economy and inflation. Trump reached a deal with Vietnam, affecting companies like Nike, whose stock rose 4.1%.

Factors like the termination of protected status for Venezuelans could drag on the job market. The 10-year Treasury yield rose to 4.28%, while the two-year yield remained steady at 3.78%. An unexpected weak job market could prompt the Fed to cut interest rates, but they are waiting to see the impact of Trump’s tariffs.

In international stock markets, indexes were mixed as Trump’s tariffs deadline nears. France’s CAC 40 and Hong Kong’s Hang Seng rose, while Japan’s Nikkei 225 and South Korea’s Kospi fell. Trump has been pushing for rate cuts, while the Fed is waiting for more data before making a decision.

Read more: US stocks hit another record as Tesla and Nike rally