FX.co ★ S&P 500 Rises to New Record After EU Trade Deal

US stocks advanced on Wednesday, buoyed by reports of a trade agreement between the US and the European Union, enhancing the positive sentiment already created by the trade deal with Japan. The S&P 500 rose by 0.6% to reach a new record of 6,350. Meanwhile, the Dow surged by 400 points, and the Nasdaq 100 experienced a more modest increase of 0.2%. It has been reported that the US reduced tariffs on the EU to 15%, down from the previously threatened 30%, mirroring its approach with Japan, which signifies a sense of relief that aggressive tariffs will be curbed by August. In addition, positive corporate earnings developments further lifted the indices. GE Vernova jumped 13% after revising its outlook upward, and General Dynamics saw a 6% rise following earnings results that exceeded expectations. Conversely, Texas Instruments dropped 12%, as it revealed that tariff threats impacted its forecast. AT&T also recorded losses, despite surpassing profit projections. Looking ahead, Tesla and Alphabet remained relatively unchanged, with their earnings reports anticipated soon after the market close.