US stocks ended the week strong, with the S&P 500 and Nasdaq reaching fresh record highs, closing out their best three-month performance in over a year. The gains were fueled by progress in trade negotiations, particularly between Canada and the US.
Canada backed down from a digital services tax over the weekend, allowing for a restart of talks with the US. This development was seen as a positive sign for trade relations between the two countries. Meanwhile, Congress is working to pass the so-called “One Big Beautiful Bill” by the end of the week, although it’s unclear if all Republican senators and House representatives will support the legislation.
The Dow Jones Industrial Average rose 0.63%, while the S&P 500 gained 0.52% and the Nasdaq increased 0.48%. For the quarter, the S&P 500 has surged over 10%, the Nasdaq has risen over 17%, and the Dow has climbed more than 4.5%.
The benchmark 10-year Treasury yield fell to 4.242%. Investors are also watching for updates on trade negotiations with China, where a breakthrough was recently announced.
In corporate news, Moderna’s experimental flu vaccine showed positive results in a late-stage study, while Hewlett Packard Enterprise and Juniper Networks shares rallied after the Department of Justice settled its lawsuit challenging the $14 billion acquisition. Facebook parent Meta stock climbed to a record high following an artificial intelligence hiring spree, and Oracle shares jumped 4% after a regulatory filing disclosed a cloud deal worth over $30 billion annually.
Finally, Joby Aviation’s flying taxi made its debut in the United Arab Emirates, while trading app Robinhood’s new cryptocurrency products have sparked interest among investors. Bitcoin was last down 0.69% at $107,634.70.
Source: https://eu.usatoday.com/story/money/markets/2025/06/30/us-stocks-monday-tax-bill-tariff/84411064007