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The S&P 500 closed at a fresh record high on Wednesday, fueled by renewed optimism over global trade following a new agreement between the U.S. and Japan. The upbeat sentiment raised hopes that the Trump administration could secure further deals, helping to avert a broader trade war.
At 4:00 p.m. ET, the Dow Jones Industrial Average surged 507 points, or 1%, while the S&P 500 gained 0.80% and the NASDAQ Composite added 0.6%.
President Donald Trump announced a “massive” trade agreement with Japan that would impose a 15% tariff on Japanese imports—lower than the initially threatened 25%. The deal also includes a $550 billion investment from Japan into the U.S. economy and expanded market access for American autos and agricultural goods, particularly rice.
Trump hinted at more deals on the horizon, stating, “We have Europe coming in tomorrow, and the next day, we have some other ones coming in.” A potential deal with the European Union could help avoid 30% tariffs on EU imports, currently set to take effect on August 1.
While the Japan agreement marks progress, analysts and the Federal Reserve continue to warn that ongoing tariff uncertainty could fuel inflation.
After the market close, investors turned their attention to second-quarter earnings from Tesla (NASDAQ:TSLA) and Alphabet (NASDAQ:GOOGL)—the first of Wall Street’s “Magnificent Seven” to report this season.
Tesla is under scrutiny as it deals with shrinking margins, softer demand, and a price war in China. Markets will also watch for updates on the company’s AI and robotics efforts, which CEO Elon Musk has pitched as Tesla’s future growth drivers.
Alphabet’s results are expected to shed light on how artificial intelligence is boosting revenue and whether the company plans to ramp up investment in AI infrastructure. As a leading “AI hyperscaler,” Alphabet is one of the top spenders in the space.
So far, roughly 17% of S&P 500 companies have reported earnings this season, with about 85% beating expectations.
The meme stock trend made a comeback, with GoPro (NASDAQ:GPRO) and Krispy Kreme (NASDAQ:DNUT) joining the ranks of recent retail-favorite surges. Other names gaining traction include Rocket Companies (NYSE:RKT), Opendoor Technologies (NASDAQ:OPEN), and Kohl’s (NYSE:KSS).
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This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.
U.S. equity futures suggest a mostly unchanged open on Friday, signaling that stocks may carry over Thursday’s muted tone as investors await critical inflation figures. Market participants appear hesitant to make bold moves ahead of the release of consumer price data—a key input to the Federal Reserve’s policy decisions—due shortly after the opening bell. The […]
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