S&P 500 and Nasdaq build on record highs as U.S. stocks gain on trade optimism
U.S. stocks ended higher on Monday on optimism around...
U.S. stocks ended higher on Monday on optimism around trade talks ahead of July 9 — the expiration date of the Trump administration’s 90-day tariff pause that started on April 2.
The Canadian government announced on Sunday night that it would scrap its digital services tax on U.S. tech companies, which had prompted President Trump to halt trade negotiations between the two countries.
The Dow Jones Industrial Average went up 275.50 points or 0.6% on Monday to end at 44,094.77 for its third straight daily gain, according to Dow Jones Market Data. The index advanced 1,824.70 points or 4.3% for the month and it rose 2,093.01 points or 5% for the quarter.
The S&P 500 rose 31.88 points or 0.5% to close at 6,204.95 on Monday, a record high and its third straight daily gain. The index increased 593.10 points or 10.6% for the quarter, its largest one-quarter percentage gain since the fourth quarter of 2023. It went up 293.26 points or 5%.
The Nasdaq Composite rose 96.27 points or 0.5% to finish at 20,369.73 on Monday, also setting a fresh record and posting its sixth straight daily gain. The index advanced 3,070.45 points or 17.8% for the quarter, its largest one-quarter percentage gain since the second quarter of 2020. It rose 1,255.97 points or 6.6% for the month.
Maintenance delays US SPR deliveries until late 2025
Crude oil deliveries to the Strategic Petroleum Reserve will be delayed...
Crude oil deliveries to the Strategic Petroleum Reserve will be delayed by seven months because of site maintenance, the Energy Department says. The SPR is now at its lowest level since the 1980s after it was tapped by the Biden administration for 300 million barrels of oil when gasoline prices spiked in 2021.
On Friday, Americans will declare their independence from work by celebrating...
On Friday, Americans will declare their independence from work by celebrating July Fourth with fireworks displays, parades, road trips, hot dogs, and watching Joey Chestnut eat hot dogs. AAA expects a record 72.2 million people will travel within the country for the holiday, the vast majority of them (61.6 million) by car. If you’re concerned about getting stuck in traffic, that’s certainly justified, but try to avoid hitting the road on July 2 and July 6, which will be the busiest driving days, according to transportation data provider Inrix. At least gas prices are at their lowest levels in four years.
Typically, jobs reports arrive on the first Friday of each month, but...
Typically, jobs reports arrive on the first Friday of each month, but because this Friday is July Fourth and the markets are closed, the release is being pushed up to Thursday morning. No matter the unusual timing, the report is going to be crucial for shaping the Fed’s thinking around the timing of interest rate cuts. US companies are expected to have added 116,000 jobs last month, which would add fresh evidence to a gradual slowdown in the labor market (in May, 139,000 jobs were added). The unemployment rate is also projected to tick up to 4.3% from 4.2%.
Wimbledon, Tour de France begin: No offense to baseball,...
Wimbledon, Tour de France begin: No offense to baseball, but with the NHL and NBA playoffs wrapped up, the best sports action is happening overseas. The poshest major tournament on the tennis calendar, Wimbledon, starts today in London (and without human line judges for the first time). On the women’s side, American Coco Gauff will attempt to win a second consecutive Grand Slam following her French Open title earlier this month. In the men’s draw, elder statesman Novak Djokovic will try to muster enough stamina in those 38-year-old legs to get young phenoms Carlos Alcaraz and Jannik Sinner off his lawn. And speaking of legs, the Tour de France begins on Saturday.
Republican Senator Thom Tillis of North Carolina said he won’t seek reelection in 2026. President Trump had threatened to primary Tillis after he voted against advancing the Senate’s tax bill Saturday night.
F1 brought in $55.6 million domestically in its opening weekend, giving Apple its first bona fide box office hit.
Tesla said it made its first-ever autonomous delivery of a new car to a customer, which “might be a bigger deal than the robotaxis,” according to The Verge.
Delta is recovering from a brutal weekend with more than 2,800 flight cancellations due to severe weather at its Atlanta hub.
NBA sharpshooter Malik Beasley is under federal investigation related to gambling allegations tied to league games, according to ESPN.
A heat wave gripping southern Europe drove temperatures above 104 degrees Fahrenheit in countries including Italy, Spain, and Greece.
