Real-Time Stock Market UpdatesMajor Indexes Reach New Milestones
The S&P 500 and Nasdaq Composite both reached all-time highs in today’s near the close market update, as investors cheered progress in U.S.-China trade negotiations. The S&P 500 rose 0.3% to break above its February record, while the tech-heavy Nasdaq Composite climbed 0.3% to surpass its December peak. The Dow Jones Industrial Average gained 0.5% but remains about 3% below its record high.
This marks the culmination of a stunning comeback for the markets since April, with the S&P 500 now up more than 27% from its intraday low set during the height of tariff fears earlier this year. The major indexes are on track to post significant gains for June, marking the second consecutive month of strong performance.
Trade Deal Progress Fuels Market Rally
Today’s gains were primarily driven by optimism surrounding U.S.-China trade relations. Commerce Secretary Howard Lutnick told Bloomberg that a framework between China and the U.S. on trade had been finalized, with the Trump administration expecting to reach deals with 10 major trading partners soon.
President Donald Trump indicated yesterday that “we just signed with China,” though a White House official later clarified he meant China agreed to “an additional understanding of a framework to implement the Geneva agreement.” Treasury Secretary Scott Bessent added that negotiations could be fully completed by Labor Day.
China’s Ministry of Commerce confirmed today that the two countries had established a trade framework that would allow the export of rare earths to the U.S. and ease tech restrictions, further boosting market sentiment.
Tariff Deadline Concerns Ease
Markets were also relieved by comments from White House Press Secretary Karoline Leavitt, who downplayed the July 8 and 9 deadlines for reimposing steep tariffs on imports from most countries. Leavitt stated these deadlines are “not critical” and “perhaps could be extended,” easing concerns that had previously roiled markets.
The July 8 date marks when the so-called liberation day tariffs are set to take effect after a 90-day pause, while July 9 is the deadline for an EU deal to avoid 50% tariffs. Leavitt’s suggestion that these deadlines could be flexible has further validated the market’s recovery from April lows.
Key Economic Data on Tap
Investors are awaiting the May reading of the personal consumption expenditures (PCE) price index, due at 8:30 a.m. ET. Economists polled by Dow Jones expect the index to increase 0.1% month-over-month and 2.3% year-over-year. Core PCE is projected to rise 0.1% from April and 2.6% from a year earlier.
This inflation data will be closely watched as the Federal Reserve considers its interest rate policy. Fed Chair Jerome Powell recently testified before Congress that the central bank is in no hurry to cut interest rates as it awaits more data on how tariffs are affecting the economy.
Tech Sector Highlights
Technology stocks continue to lead the market higher, with several notable movers today. Nvidia (NVDA) received a boost as Loop Capital raised its price target to $250.00. The AI chip giant had climbed more than 4% to a record high in the previous session.
Other tech giants showing strength include Microsoft (MSFT), which is benefiting from continued growth in its AI and cloud businesses, and Apple (AAPL), which posted small gains in recent sessions.
Tesla (TSLA) remains in focus after facing challenges in the European market, where its sales fell in May for the fifth consecutive month. The electric vehicle maker is among the seven retail stocks to watch today, according to MarketBeat’s stock screener tool.
Power Stocks Rise on AI Infrastructure Plans
Power stocks moved higher in premarket trading following reports that President Donald Trump could sign a series of executive orders to increase power supply to support artificial intelligence infrastructure. The administration is considering measures to make it easier for power plants to connect to the grid and providing federal land for data centers, according to sources familiar with the matter.
This initiative highlights the growing importance of AI infrastructure and could benefit companies involved in power generation and distribution.
Global Markets Mixed
Asian markets traded mixed on Friday as investors assessed China’s latest industrial data. Japan’s Nikkei 225 climbed 1.43% to end at 40,150.79, crossing the 40,000 mark for the first time since January. South Korea’s Kospi index fell 0.77% to 3,055.94, while Hong Kong’s Hang Seng Index closed 0.17% lower at 24,284.15.
The mixed performance in global markets reflects ongoing uncertainty about economic growth and trade relations, even as U.S. markets reach new highs.
Today’s markets today continue to demonstrate remarkable resilience in the face of geopolitical tensions and economic uncertainties. With major indexes hitting record highs and trade negotiations progressing, investors appear increasingly confident in the market’s near-term outlook despite lingering concerns about inflation and potential tariffs.