Traders work on the floor of the New York Stock Exchange on June 27, 2025.
NYSE
Stocks rose early Monday as increasing trade hopes among investors position Wall Street to close out a stunning month with even more record highs.
The S&P 500 gained 0.3%, building on the record highs set in the previous session. The Nasdaq Composite advanced 0.3% and had also reached fresh all-time highs. The Dow Jones Industrial Average climbed 191 points, or 0.4%.
S&P 500 since April 1
Monday’s advance follows Canada rescinding its digital service tax in an effort to facilitate trade negotiations with the U.S. That’s after President Donald Trump on Friday said the U.S. was “terminating ALL discussions on Trade with Canada.” Initial payments on the tax were set to begin Monday and would have applied to companies such as Google, Meta and Amazon.
Investors are awaiting the announcement of any trade deals between the U.S. and its trading partners, as Trump’s 90-day tariff reprieve is set to expire next week. On Monday, Treasury Secretary Scott Bessent said there are “countries that are negotiating in good faith.” However, he added that “if we can’t get across the line because they are being recalcitrant,” tariffs could still “spring back” to the levels announced on April 2.
Deals on that front could be finalized once Trump’s “one, big, beautiful” bill passes, National Economic Council Director Kevin Hassett said on CNBC’s “Squawk on the Street” on Monday. The package narrowly passed a key procedural vote in the Senate on Saturday night. If passed by the Senate, it faces an uncertain path in the House, where some GOP lawmakers have balked at revisions in the latest version of the bill.
While the looming tariff deadline and tax bill could help spur volatility in the remainder of 2025, equity fundamentals and improving market breadth, among other factors, could mean that the recent momentum will continue, according to Terry Sandven of U.S. Bank Wealth Management.
“The wall of worry is crumbling as stocks reach all-time highs,” said the chief equity strategist, whose year-end target implies more than 2% upside in the S&P 500 from Friday’s close. “Inflation is stable, interest rates are range-bound and earnings are trending higher. That’s a favorable backdrop for stocks to continue to forge higher as we begin the second half.”
Monday marks the last day of June, a month in which the major averages have staged a sharp recovery back to record levels. The S&P 500 is up more than 4% this month, while the tech-heavy Nasdaq has jumped more than 6%. The Dow, meanwhile, has added about 4% month to date.
Prior to the S&P 500 and Nasdaq hitting all-time highs Friday, global trade and tariff tensions rocked the market, putting the broad market index within striking distance of a bear market in early April. It’s now on pace to finish the quarter with solid gains, along with the other two leading indexes. The S&P 500 has increased more than 10% quarter to date, while the Nasdaq and Dow are more than 17% and more than 4% higher in the period.
