A U.S.-Japan trade deal catapulted Japan’s Nikkei stock index up over 3%, driving Toyota’s share price up 14%. European shares also climbed on hopes of a trade agreement between the EU and U.S. China began building the world’s largest hydropower project, costing $170 billion. Wall Street’s tech sector concentration has surpassed levels seen during the 1990s dotcom bubble.

In the trade deal, Japan’s auto sector will see tariffs cut to 15% from 27.5%, with other goods’ tariffs reduced to 15% from 25%. Japan will invest up to $550 billion in the U.S., including building resilient supply chains in key sectors. Japan is the fifth-largest U.S. trading partner in goods and the largest foreign investor in the U.S.

Upcoming events include U.S. June existing home sales, Canada June house price index, and euro zone July consumer confidence data. U.S. corporate earnings from various companies like Alphabet, Tesla, IBM, AT&T, and others will be released. Germany’s Chancellor will host France’s President, and UK’s Prime Minister will meet India’s Prime Minister.

Germany’s Chancellor will host France’s President, and UK’s Prime Minister will meet India’s Prime Minister.

Read more at Yahoo Finance: Morning Bid: Japan deal electrifies markets