Wall Street Records: S&P 500, Nasdaq Hit New Highs as Q2 Ends Amid Trade Talks
Wall Street Records: S&P 500, Nasdaq Hit New Highs as Q2 Ends Amid Trade Talks
U.S. stock markets concluded the second quarter on a high note Monday, June 30th, 2025, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all reaching new record highs. The S&P 500 and Nasdaq each advanced 0.6%, while the Dow gained 308 points, or 0.7%.
This market surge was fueled by positive developments in U.S.-Canada trade relations. Canada rescinded its digital service tax, a move intended to smooth trade negotiations, just days after President Donald Trump had threatened to end all trade discussions and as initial tax payments were set to begin.
Looking ahead, investor attention is now fixed on the expiration of President Trump’s 90-day tariff reprieve, due next week. Treasury Secretary Scott Bessent confirmed that while some countries are negotiating constructively, tariffs could be reimposed if agreements aren’t reached. National Economic Council Director Kevin Hassett suggested that major trade deals could materialize following the passage of Trump’s “one, big, beautiful” bill, which narrowly cleared a key Senate procedural vote Saturday but faces an uncertain path in the House.
Despite potential volatility from the impending tariff deadline and the tax bill, market analysts are optimistic. Terry Sandven of U.S. Bank Wealth Management highlighted a “crumbling wall of worry” as stocks hit new peaks, citing stable inflation, steady interest rates, and strong earnings as factors supporting continued equity gains into the second half of 2025.
June proved to be a robust month for all major averages, staging a sharp recovery to record levels. The S&P 500 climbed over 5% for the month, the Nasdaq jumped more than 6%, and the Dow added approximately 4%, capping a strong quarter after earlier trade tensions had briefly threatened a bear market in April.
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