US Stock Market Today: S&P 500 closes at 6,173, Nasdaq reaches 20,273 as markets show growth. Details here
The stock market closed higher on Friday as the S&P 500 and
Nasdaq
posted record closing numbers. Investors continued to respond to recent economic signals, trade adjustments and easing geopolitical tensions.
S&P 500 Sets New Record
The S&P 500 closed at 6,173 on Friday. This marked a new record closing high. It had dipped slightly after President Donald Trump announced an end to trade talks with Canada. The index later recovered. The previous record closing level was 6,144. During the morning session, the index rose by 0.3% and reached 6,156 for the first time.
Nasdaq Follows with New High
The Nasdaq also set a new closing record. It reached 20,273 on Friday. The technology-heavy index has grown sharply in recent weeks. Over the past month, the Nasdaq climbed 28%. The growth reflects investor confidence in large technology firms.
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Strong Market Performance
Since April, the stock market has seen consistent gains. The S&P 500 has climbed more than 20% during this time. The gains followed Trump's announcement of 'Liberation Day' tariffs.
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The Dow Jones Industrial Average also increased 12% over the same period. Analysts note that
investor sentiment
has shifted. There is now less concern about unpredictable policies and more hope for stable economic growth.
Rollback of Tariffs Boosts Markets
In recent weeks, the US government has reduced several tariffs. These rollbacks have reduced costs for companies. They also helped reduce fears of sudden inflation increases. A key development was the trade deal between the US and China.
The agreement cut tariffs between both countries. This led to a rise in stock prices. Wall Street analysts quickly revised their recession forecasts. Many now see a more stable path ahead.
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Positive Economic Indicators
Other factors also supported the market's climb. New economic data showed the US economy is steady. Inflation did rise slightly in recent data, but it remains close to the lowest level seen since 2021. Hiring slowed in May but remained stable.
Many economists believed hiring would decline further due to trade tensions. However, recent government data showed hiring was not as affected as expected.
Middle East Conflict Causes Brief Market Dip
Earlier this month, a conflict between Iran and Israel caused a temporary decline in the stock market. Oil prices also rose during this period. But a ceasefire helped bring stability. Oil prices then dropped, and stocks regained momentum.
US Ends Trade Talks with Canada
Stocks briefly dropped again on Friday afternoon. This followed an announcement by President Trump. He said the US would end all trade talks with Canada. He made the statement on his social media platform.
Trump's decision followed Canada's move to impose a digital service tax. The tax targets US technology companies. Trump called the tax a direct move against the US. This led to market concerns, though the indexes later recovered.
FAQs
Why did the S&P 500 and Nasdaq reach record highs?
Reduced tariffs, a stable economy, and better investor sentiment supported strong growth in the S&P 500 and Nasdaq, pushing both to new record highs.
What triggered the temporary dip in the market on Friday?
President Trump's decision to end trade talks with Canada after their digital tax announcement briefly caused a dip in stock prices.
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Time of India
23 minutes ago
- Time of India
In 24 hours: Trump's 'full barrier' trade pitch to India, pact with China, cold shoulder to Canada - What's next?
With the Iran–Israel war seemingly in his rear-view mirror, US President Donald Trump has swiftly reset his global focus—once again time zeroing in on trade, tariffs and new deals. In the past 24 hours, Trump has dramatically suspended trade talks with Canada over its digital services tax, vaguely confirmed a fresh agreement with China, and teased a 'very big' breakthrough soon with India. Central to this flurry of announcements is his revived strategy of issuing reciprocal tariffs—by letter—to nations wishing to access the US market. Trump's decision to halt negotiations with Canada came after Ottawa unveiled a 3 per cent levy on major US tech firms, which he denounced as 'a direct and blatant attack on our country.' He declared via social media that he would determine and impose appropriate tariffs within a week, citing the US's dominant position in the relationship. Meanwhile, officials in Washington emphasise that Canada holds more to lose, reinforcing Trump's image of maximum leverage. But Trump also struck a softer tone on India, calling a potential trade deal 'very big.' He hinted this could result in sweeping access for US businesses, dismantling barriers that have thus far kept them at bay: 'Right now, it's restricted. You can't walk in there… we agree that going to India and trade…' He added that the China deal was already underway, giving US firms a shot at rare earths and other vital commodities, though details remain under wraps. Trump tariff : What happened in the last 24 hours President Donald Trump's trade agenda took a dramatic turn over the past 24 hours, as he announced a series of sweeping moves on tariffs, suspended trade talks with Canada, signalled a breakthrough with China, and hinted at a 'very big' deal with India. The moves mark a sharp escalation in his second-term strategy to assert US dominance over global trade, even as allies and rivals alike push back. Trump halts Canada trade talks over digital tax Trump stunned officials on both sides of the border by immediately halting trade negotiations with Canada. 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately,' Trump posted on his social media network. 'We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.' Canada's new digital services tax, due to take effect Monday, imposes a 3% levy on tech giants like Amazon, Google, Meta and Airbnb — applying retroactively and totalling nearly \$2 billion in US company obligations. 'We have all the cards,' says Trump on Canada Speaking from the White House, Trump reinforced his hardline stance. 'They did something with our tech companies today trying to copy Europe. It's not going to work out well for Europe either. And it's not going to work out well for Canada. They were foolish to do it,' he said. When asked if Canada could reverse his decision, Trump responded, 'No… It doesn't matter to me. We have all the cards.' Tariff deadline looms on July 9 The broader context is Trump's push to impose reciprocal tariffs — some as high as 50% — on countries with whom the US runs a trade deficit. The 90-day negotiation window, set to expire on July 9, could usher in a new wave of tariffs. 'We have 200 countries, you could say 200 countries plus. You can't do that,' Trump said. 'So at a certain point over the next week and a half or so, or maybe before we're going to send out a letter.' Canadian PM Carney: 'It's a negotiation' Canadian Prime Minister Mark Carney sought to downplay tensions, saying, 'We will continue to conduct these complex negotiations in the best interests of Canadians. It's a negotiation.' But Trump appears unmoved, accusing Canada of levying 'very, very severe' taxes on American companies, including tariffs of up to 400% on dairy products. Digital services tax: The flashpoint The Canadian tax mirrors EU regulations and specifically targets companies with significant online revenues generated from Canadian users. Trump blasted the policy as 'a direct and blatant attack on our country.' Matt Schruers, head of the Computer & Communications Industry Association, praised Trump's swift response: 'We appreciate the Administration's decisive response to Canada's discriminatory tax on US digital exports.' 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Economic Times
26 minutes ago
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S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets
Volume on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days. Wall Street surged on Friday, propelling the S&P 500 and Nasdaq to record highs amid trade optimism and expectations of Federal Reserve rate cuts. Despite a brief setback caused by President Trump's termination of trade talks with Canada, all major indexes posted weekly gains. Economic data, including consumer spending and sentiment reports, further solidified expectations for monetary easing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads NEW YORK: Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal pared gains after U.S. President Donald Trump terminated trade negotiations with Canada in response to its digital tax on technology so, all three major U.S. stock indexes posted weekly gains. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post "liberation day" trough on April blue-chip Dow remained 2.7% below its record closing high reached on December 4."This market's been pretty resilient," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Investors are riding momentum and looking for breakouts.""They don't want to get caught on the wrong side of this thing," Carlson added. "Many investors already have missed out. And now you have the S&P flirting with an all-time high."The Personal Consumption Expenditures report from the Commerce Department showed consumer income and spending unexpectedly contracted in May. And while tariffs have yet to affect price growth, inflation continues to hover above the Fed's 2% annual inflation target.A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch and Beijing reached an agreement to expedite rare-earth shipments from China to the U.S., a White House official said, well ahead of the July 9 expiration of the 90-day postponement of U.S. President Donald Trump's "reciprocal" U.S. Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main U.S. trading partners could be done by the September 1 Labor Day Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07 and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20, the 11 major sectors of the S&P 500, consumer discretionary enjoyed the biggest percentage gain, while energy shares were the laggards. Chipmaker Micron's MU.O upbeat forecast revived investor confidence in artificial intelligence-related stocks, while Nvidia NVDA.O rose 1.8%, edging closer to $4 trillion market capitalization after reclaiming its position as the world's most valuable shares NKE.N jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the were 347 new highs and 55 new lows on the NYSE. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 S&P 500 posted 35 new 52-week highs and 6 new lows while the Nasdaq Composite recorded 101 new highs and 68 new on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days.
Time of India
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S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW YORK: Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal pared gains after U.S. President Donald Trump terminated trade negotiations with Canada in response to its digital tax on technology so, all three major U.S. stock indexes posted weekly gains. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post "liberation day" trough on April blue-chip Dow remained 2.7% below its record closing high reached on December 4."This market's been pretty resilient," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "Investors are riding momentum and looking for breakouts.""They don't want to get caught on the wrong side of this thing," Carlson added. "Many investors already have missed out. And now you have the S&P flirting with an all-time high."The Personal Consumption Expenditures report from the Commerce Department showed consumer income and spending unexpectedly contracted in May. And while tariffs have yet to affect price growth, inflation continues to hover above the Fed's 2% annual inflation target.A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch and Beijing reached an agreement to expedite rare-earth shipments from China to the U.S., a White House official said, well ahead of the July 9 expiration of the 90-day postponement of U.S. President Donald Trump's "reciprocal" U.S. Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main U.S. trading partners could be done by the September 1 Labor Day Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07 and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20, the 11 major sectors of the S&P 500, consumer discretionary enjoyed the biggest percentage gain, while energy shares were the laggards. Chipmaker Micron's MU.O upbeat forecast revived investor confidence in artificial intelligence-related stocks, while Nvidia NVDA.O rose 1.8%, edging closer to $4 trillion market capitalization after reclaiming its position as the world's most valuable shares NKE.N jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. Advancing issues outnumbered decliners by a 1.29-to-1 ratio on the were 347 new highs and 55 new lows on the NYSE. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 S&P 500 posted 35 new 52-week highs and 6 new lows while the Nasdaq Composite recorded 101 new highs and 68 new on U.S. exchanges was 22.07 billion shares, compared with the 18.27 billion average for the full session over the last 20 trading days.
