Wall Street is celebrating its best cross-asset advance in over a year, sparking hope among investors who had been bracing for the worst due to global economic concerns. The S&P 500 index has reached a record high since February, reflecting investor optimism despite rising uncertainty.
Recent fears about a trade war have receded, allowing markets to rally and fuel buying activity across various asset classes, from technology funds to junk bonds. The recent surge is seen as a vote of confidence in the economy’s resilience and investors’ ability to navigate complex policy challenges.
However, just as markets were closing out their gains, a surprise announcement by the White House sent shockwaves: it plans to end negotiations with Canada over a digital services tax. This unexpected move raises new questions about economic stability and has reinvigorated concerns among some investors.
Source: https://www.bloomberg.com/news/articles/2025-06-27/wall-street-s-booming-june-is-big-bet-against-economy-doomsayers