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US markets end higher amid hopes of trade deals
Jul-01-2025

The US markets ended higher on Monday amid ongoing optimism about trade deals ahead of the impending deadline for U.S. reciprocal tariffs in early July. Besides, sentiments remained upbeat as Canada rescinded its digital services tax on American tech firms. The move comes after President Donald Trump said that ending trade talks with Canada due to the digital services tax. Traders were also keeping an eye on developments in Washington, D.C., where the Senate is holding a vote-a-rama on amendments to Trump's tax cuts and spending bill after the chamber narrowly voted to begin debate on the bill over the weekend. However, gains remained capped as Trump continued to pressure the Federal Reserve to lowest rates, undermining the independence of Federal Reserve.

On sectoral front, significant strength has been seen in gold stocks, driving the NYSE Arca Gold Bugs Index up by 2.8 percent, amid a notable increase by the price of the precious metal. Further, brokerage stocks showed strong move to the upside, as reflected by the 2.0 percent jump by the NYSE Arca Broker/Dealer Index.

Dow Jones Industrial Average advanced 275.50 points or 0.63 percent to 44,094.77, Nasdaq climbed 96.27 points or 0.47 percent to 20,369.73 and S&P 500 rose 31.88 points or 0.52 percent to 6,204.95.

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