Trade hopes lift markets higher

Allan Tong Posted On July 2, 2025

The U.S. struck a trade deal with Vietnam on Wednesday, which injected hope into markets and lifted them to new highs. The S&P added 29 points to 6,227 and the Nasdaq rose 190 points or 0.94% to 20,393, both record closes. Reopening from Canada Day, the TSX edged up five points to a new record of 26,862. In contrast, the Dow slid 10 points. The trade news overshadowed a surprise jobs report in the U.S. private sector which cut 33,000 jobs in June.

Key movers on Wall Street included Nvidia jumping 2.58%, Tesla 4.97%, Intel -4.25%, Apple 2.22% and Ford 3.7%. On Bay Street, Bombardier rocketed 21.37% after closing a major aircraft deal, Novagold 9.29%, Energy Fuels 8.51%, Cenovus 4.64% and BlackBerry -8.15%. Meanwhile, Bitcoin climbed 3.4% to US$109,565, gold increased by US$20 to US$3,358, and WTI surged 2.78% to US$67.25. The U.S. 10-year yield edged up to 4.287%.