Wall Street closed the week higher, with tech-heavy indices notching fresh records as upbeat corporate earnings, resilient macro data and breakthrough trade deals converged to boost risk appetite.
- SPY ETF has rallied 5% over the past month. See the chart here.
The U.S. finalized new trade agreements with Indonesia, the Philippines and Japan. The Tokyo deal was the most significant, locking in a reduction in tariffs on Japanese autos and goods from 25% to 15%, while Japan pledged $550 billion in investment and improved access to American-made goods.
A U.S.-EU trade deal is now reportedly close, expected to align with the Japan framework and potentially ease existing tariff rates ahead of the Aug. 1 deadline.
Separately, President Donald Trump signed an Executive Order to boost …