Global Stocks Surge Amid Trade Negotiation Optimism
Global stocks reached an intraday high on Monday, buoyed by optimism in U.S. trade negotiations. Canada postponed its digital tax on U.S. tech firms, while U.S. stocks showed modest gains. The dollar saw its worst first-half performance in decades. Investors are eyeing impending labor market data.
Global stocks climbed to an intraday record on Monday as hopes rose that U.S. trade negotiations with key partners would progress. In contrast, the dollar slumped, heading for its poorest first-half performance in decades.
Canada paused its digital services tax targeting U.S. tech firms shortly before its enactment, aiming to advance stalled trade talks with Washington. Prime Minister Mark Carney and President Trump aim to finalize a trade deal by July 21, extending the original July 9 deadline.
On Wall Street, stocks rose, driven by financial gains. Investors await labor market data later this week, anticipating its impact on the economy. The Fed, as per Atlanta's Raphael Bostic, awaits clarity on tariffs' inflation impact before adjusting interest rates.
(With inputs from agencies.)
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