Global Stocks Surge Amid U.S. Trade Optimism

Global stocks hit an intraday record on Monday, buoyed by optimism surrounding U.S. trade negotiations with key partners. The dollar, however, declined and is on track for its worst first-half performance in over fifty years. Canada suspended its digital services tax, set to affect U.S. firms, aiming to advance trade discussions with Washington.

In a bid to avert new tariffs, Canadian Prime Minister Mark Carney and U.S. President Donald Trump plan further negotiations, as they try to finalize a deal by July 21. While the July 9 deadline remains firm for other nations, most deals could be concluded by Labor Day, officials suggest.

Wall Street saw a rise in U.S. stocks, with the S&P 500 and Nasdaq setting record closes for a second consecutive session, fueled by a 1% uptick in technology shares. Meanwhile, consumer discretionary lagged within the major sectors. 'Animal spirits seem to have taken hold here,' remarked Roy Behren of Westchester Capital Management, attributing the strength to typical end-of-quarter buying spree.

(With inputs from agencies.)