Market Euphoria: S&P 500 and Nasdaq Hit Record Highs Amid Trade Optimism
The S&P 500 and Nasdaq closed at record highs, capping their best quarter in over a year fueled by hopes for trade deals and potential rate cuts. Despite this, the first half of the year saw weak performances due to trade uncertainties, with upcoming economic data and political moves potentially impacting market trends.
The S&P 500 and Nasdaq reached record highs on Monday, capping a stellar quarter marked by hopes for trade deals and potential rate cuts. Both indexes saw double-digit gains, with the S&P 500 gaining 10.57% and the Nasdaq rising 17.75%.
Despite this quarter's gains, the market endured its weakest first-half performance since 2022, as trade policy uncertainty loomed over investors. Optimism remains high for trade agreements with China and the UK, potentially averting a global trade war.
Further impacting the market, Canada withdrew its digital services tax in a bid to revive trade talks with the US, and the US Treasury warned of possible tariff hikes come July 9. Economic data expected this week may further influence investor sentiment.
(With inputs from agencies.)
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