Stock indexes hit record highs due to progress in trade negotiations around the world
From Yahoo Finance: 2025-06-30 11:33:00
Stock indexes rose today, with the S&P 500, Dow Jones, and Nasdaq 100 hitting new highs. Progress in trade negotiations with China, the EU, and Canada boosted stocks. Weaker US economic data and concerns about inflation due to tariffs impacted stock performance. M&A activity, including Home Depot acquiring GMS Inc., supported stocks.
The Senate considers a Republican bill that could add $3.3 trillion to US deficits. The dollar index hit a 3-1/4-year low. Bostic’s comments on tariffs and inflation led to concerns. Home Depot’s acquisition of GMS Inc. and AbbVie’s purchase of Capstan Therapeutics also influenced stock movement.
US economic data was mixed, with the Chicago PMI falling to 40.4 and the Dallas Fed survey rising to -12.7. Bostic projected rate cuts due to tariffs. Treasury Secretary Bessent’s comments on longer-term bonds eased supply concerns. Better-than-expected economic news from China supported global growth prospects.
Earnings season looms, with a projected 2.8% rise in S&P 500 Q2 earnings. Markets await trade news, Trump’s tax bill progress, and key economic data releases. Federal funds futures price a 19% chance of a rate cut at the July FOMC meeting. Overseas markets saw mixed performance, with European government bond yields varying.
Positive trade news boosted T-note prices, while weaker-than-expected data supported them. However, a S&P 500 rally dampened demand. European government bond yields were mixed. German retail sales and CPI reports disappointed. ECB’s Guindos cited economic challenges due to global trade uncertainty.
US stock movers included bank stocks, with Goldman Sachs leading gains. GMS Inc. surged after Home Depot’s acquisition announcement. Hewlett-Packard Enterprise and Juniper Networks saw increases. AppLovin and Oracle also rose. Real estate investment trusts and companies like Cohen & Steers Inc. faced downward pressure.
Earnings reports for various companies were released on 6/30/2025. The article was originally published on Barchart.com for informational purposes. Rich Asplund did not have positions in the securities mentioned.
Read more at Yahoo Finance: S&P 500 and Nasdaq 100 Post Record Highs Amid Signs of Trade Progress