Stock Market Today: S&P 500 and Nasdaq Reach New Record Highs, Highlighting a Remarkable Second-Quarter Rebound
By Rian Howlett, Karen Friar, and Laura Bratton | Updated June 30, 2025
U.S. stocks soared to fresh record levels on Monday, capping a stunning comeback during one of the most volatile first halves of the year in recent memory. The surge in major indices reflects growing optimism fueled by progress in global trade negotiations and anticipation of key economic data in the coming days.
Market Highlights
The Dow Jones Industrial Average climbed more than 0.6%, while the technology-heavy Nasdaq Composite and the S&P 500 each gained approximately 0.5%, with both the S&P 500 and Nasdaq hitting record highs. Notably, the S&P 500 surpassed the notable 6,200 mark for the first time ever.
Big tech companies led the charge as giants such as Nvidia (NVDA) and Meta (META) registered their own all-time closing highs. Microsoft (MSFT) also reached an intraday peak but closed just shy of a new record.
These market gains came on the heels of both indexes achieving new record highs last week — the first such achievement since February, marking a turnaround after months of tariff-driven swings during the onset of the year.
Easing Trade Tensions Drive Sentiment
Investor sentiment received a boost from encouraging developments in trade talks. Canada unexpectedly canceled its planned digital services tax targeting U.S. technology firms late Sunday, just hours before it was set to take effect. This move is viewed as an attempt to revive stalled global trade negotiations.
With the July 9 deadline to potentially impose sweeping U.S. "reciprocal" tariffs fast approaching, the easing of trade tensions has increased hopes that a full-blown trade war can be avoided. President Trump indicated on Sunday that he did not expect the need to extend the tariff deadline. So far in 2025, only two partial agreements have been reached — one with China and another with the United Kingdom, with the UK tariff deal officially going into effect Monday.
Political and Economic Watchpoints
Market participants are also closely monitoring the progress of President Trump’s proposed $4.5 trillion tax cut bill in the Senate. Republican leaders are working intensively to rally party support, amid concerns raised by the Congressional Budget Office that the bill could add $3.3 trillion to the national deficit over a decade. Throughout Monday, the Senate was engaged in a lengthy session voting on numerous amendments related to the bill.
In fixed income markets, the 10-year Treasury yield declined by about five basis points to 4.23%, reflecting cautious sentiment ahead of upcoming economic releases.
Looking Ahead: Jobs Report and Holiday Market Hours
Investors now turn their attention to the highly anticipated June jobs report due Thursday. Optimism is growing that strong economic data combined with steady inflation trends could encourage the Federal Reserve to consider lowering interest rates in the near future.
This week will see shortened trading hours, with markets closing early at 1 p.m. ET on Thursday and remaining closed Friday in observance of the Fourth of July holiday.
The remarkable rally in the S&P 500 and Nasdaq to record highs after a turbulent first half signals that investors are cautiously optimistic about the trajectory of the U.S. economy and global trade relations as we move into the second half of 2025. —
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