{"id":27378,"date":"2025-06-30T14:56:08","date_gmt":"2025-06-30T14:56:08","guid":{"rendered":"https:\/\/www.europesays.com\/us\/27378\/"},"modified":"2025-06-30T14:56:08","modified_gmt":"2025-06-30T14:56:08","slug":"us-stocks-add-a-bit-more-to-their-all-time-high","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/27378\/","title":{"rendered":"US stocks add a bit more to their all-time high"},"content":{"rendered":"

By STAN CHOE, AP Business Writer<\/strong><\/p>\n

NEW YORK (AP) \u2014 U.S. stocks are adding to their records on Monday as Wall Street nears the finish of a second straight winning month.<\/p>\n

The S&P 500 was 0.2% higher in its first trading after completing a\u00a0stunning rebound<\/a>\u00a0from its\u00a0springtime sell-off of roughly 20%<\/a>. The Dow Jones Industrial Average was up 146 points, or 0.3%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.2% higher.<\/p>\n

Stocks got a boost after\u00a0Canada said it\u2019s rescinding a planned tax<\/a>\u00a0on U.S. technology firms and resuming talks on trade with the United States. On Friday, U.S. President Donald Trump had said he was suspending\u00a0talks with Canada<\/a>\u00a0because of his anger with the tax, which he called \u201ca direct and blatant attack on our country.\u201d<\/p>\n

One of the main reasons U.S. stocks came back so quickly from their springtime swoon has been hope that Trump will reach deals with other countries to lower his stiff proposed tariffs. Otherwise, the fear is that trade wars could stifle the economy and send inflation higher.<\/p>\n

Many of Trump\u2019s announced tariffs are currently on pause, and they\u2019re scheduled to kick back into effect in a little more than a week.<\/p>\n

In an interview with Fox News Channel\u2019s \u201cSunday Morning Futures,\u201d\u00a0Trump said<\/a>\u00a0his administration will notify countries that the trade penalties will take effect unless there are\u00a0deals with the United States.<\/a>\u00a0Letters will start going out \u201cpretty soon\u201d before the\u00a0approaching deadline<\/a>, he said.<\/p>\n

The U.S. stock market being back at a record high could actually raise the risk of renewed escalations on tariffs, according to strategists at Deutsche Bank led by Parag Thatte and Binky Chadha. They point to the pattern in 2018 and 2019 of rallies for the market prompting escalations for tariffs, which then drove market pullbacks followed by relents on tariffs that then sparked rallies again.<\/p>\n

\u201cDespite the rhetoric to the contrary, this dynamic looks alive and well,\u201d the strategists wrote in a report. \u201cIn our view, beyond the market reaction, if negative impacts of tariffs on growth, earnings or inflation start to materialize, we will get further relents.\u201d<\/p>\n

On Wall Street,\u00a0GMS\u2019 stock jumped 11.8%<\/a>\u00a0after the supplier of specialty building products said it agreed to sell itself to a Home Depot subsidiary in a deal that would pay $110.00 per share in cash. That would give it a total value of roughly $5.5 billion, including debt.<\/p>\n

Less than two weeks ago, another company, QXO, said it was offering to buy GMS for $95.20 per share in cash. After the announcement of the Home Depot bid, QXO\u2019s stock rose 1.9%, and Home Depot\u2019s stock slipped 0.5%.<\/p>\n

Hewlett Packard Enterprise rallied 13.1% and Juniper Networks climbed 8.4% after saying they had reached an agreement with the U.S. Department of Justice that could clear the way for their merger go through, subject to court approval. HPE is trying to buy Juniper in a $14 billion deal.<\/p>\n

In the bond market, Treasury yields eased a bit ahead of major economic reports later in the week. The highlight will be Thursday\u2019s jobs report. It\u2019s often the most anticipated economic data of each month, and it will come a day earlier than usual because of the Fourth of July holiday.<\/p>\n

The job market has remained relatively steady recently, even in the face of tariffs, but hiring has slowed. Economists expect Thursday\u2019s data to show another slowdown in overall hiring, down to 115,000 jobs in June from 139,000 in May.<\/p>\n

Such data has kept the Federal Reserve on hold this year when it comes to interest rates. Fed Chair Jerome Powell has said repeatedly that it\u2019s waiting for more data to show how tariffs will affect the economy and inflation before resuming its cuts to interest rates. That\u2019s because lower rates can fan inflation higher, along with giving the economy a boost.<\/p>\n

Trump, meanwhile, has been pushing for more cuts to rates and for them to happen soon. Two of his appointees to the Fed have said recently they could consider cutting rates as soon as the Fed\u2019s next meeting in less than a month.<\/p>\n

The yield on the 10-year Treasury slipped to 4.27% from 4.29% late Friday.<\/p>\n

In stock markets abroad, indexes dipped modestly in Europe following a more mixed finish in Asia.<\/p>\n

Stocks fell 0.9% in Hong Kong but rose 0.6% in Shanghai after China reported its\u00a0factory activity<\/a>\u00a0improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each others\u2019 exports, though manufacturing remained in contraction.<\/p>\n

AP Business Writer Elaine Kurtenbach contributed.<\/p>\n

Originally Published: June 30, 2025 at 7:14 AM PDT<\/p>\n","protected":false},"excerpt":{"rendered":"By STAN CHOE, AP Business Writer NEW YORK (AP) \u2014 U.S. stocks are adding to their records on…\n","protected":false},"author":3,"featured_media":27379,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5134],"tags":[5229,1582,276,439,3549,7264,23849,67,586,132,5230,68,9504,2969],"class_list":{"0":"post-27378","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-san-diego","8":"tag-america","9":"tag-ca","10":"tag-california","11":"tag-financial-markets","12":"tag-san-diego","13":"tag-sandiego","14":"tag-stock-markets-june-30","15":"tag-united-states","16":"tag-united-states-of-america","17":"tag-unitedstates","18":"tag-unitedstatesofamerica","19":"tag-us","20":"tag-us-stocks","21":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114772900765974968","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/27378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=27378"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/27378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/27379"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=27378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=27378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=27378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}