U.S. equities opened higher on the final trading day of the first half, with tech-heavy indexes extending record highs by midday trading in New York.
Risk appetite remained firm as geopolitical tensions eased and hopes grew that upcoming U.S. trade talks could yield tangible progress. Market sentiment was further supported by rising expectations of a Federal Reserve rate cut, with Fed futures currently assigning a 93% chance of a rate cut in September.
The S&P 500 and Nasdaq 100 rose 0.4% and 0.6%, respectively, while the Dow Jones Industrial Average climbed nearly 200 points, breaking above the 44,000 mark.
President Donald Trump signaled openness to extending the July 9 deadline for reinstating reciprocal tariffs, adding that he remained optimistic about reaching key agreements in the coming weeks. Meanwhile, Canada's withdrawal of its digital services tax helped improve the outlook for U.S. tech firms and reignited momentum in trade negotiations with Washington.
In currency markets, the U.S. Dollar Index is set for its fifth consecutive monthly decline, marking its longest losing streak since 2017 and its worst half-year performance since 1991, with a 10.5% drop year-to-date.
Treasury yields edged lower, with the 10-year yield dipping to 4.25% and the 30-year yield retreating to 4.80%, snapping a three-month streak of increases.
Bitcoin (CRYPTO: BTC) slipped 1% to $107,330, consolidating after a strong second-quarter rally of 30%.
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Monday’s Performance In Major US Indices, ETFs
| Major Indices | Price | 1-day chg. % |
| Nasdaq 100 | 22,668.63 | 0.6% |
| Dow Jones | 44,027.78 | 0.5% |
| S&P 500 | 6,196.12 | 0.4% |
| Russell 2000 | 2,173.65 | 0.1 % |
According to Benzinga Pro data:
- The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.4% to $617.00.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $440.00.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) soared 0.5% to $550.93.
- The iShares Russell 2000 ETF (NYSE:IWM) inched 0.2% higher $215.86.
- The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 0.8%; the Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) lagged, down 0.6%.
Monday’s Stock Movers
- Hewlett Packard Enterprise (NYSE:HPE) shares jumped 13% after reaching a settlement with the U.S. Department of Justice over its $14 billion acquisition of Juniper Networks Inc. (NYSE:JNPR), pending final court approval.
- First Solar Inc. (NASDAQ:FSLR) shares rose 9% to $163 after the U.S. Senate advanced a bill preserving solar leasing tax credits.
- Other solar stocks also rallied, with SolarEdge Technologies Inc. (NASDAQ:SEDG), up 5% and SunRun Inc. (NASDAQ:RUN), up 15%.
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