Mon Jun 30 15:40:00 UTC 2025: **Summary:**

U.S. stocks surged Monday, driven by renewed optimism in trade negotiations following Canada’s decision to rescind its digital service tax. The S&P 500, Nasdaq, and Dow all posted gains, building on recent record highs. Investors are anticipating potential trade deals, particularly with the looming expiration of President Trump’s tariff reprieve next week. Treasury Secretary Scott Bessent cautioned that tariffs could be reinstated if negotiations stall. Positive developments include a key Senate vote on a tax bill and strong bank stock performance after passing Federal Reserve stress tests. BitMine saw a massive stock surge after a private placement and new chairman appointment. However, some concerns remain, including slowing spending growth by Chase customers and mixed economic data from Asia-Pacific markets.

**News Article:**

**Stocks Soar on Trade Optimism, Setting Up Record-Breaking Month**

**New York, NY -** U.S. stock markets rallied early Monday, fueled by rising hopes for favorable trade deals. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all climbed, continuing their record-setting pace. The gains come as investors anticipate the outcome of ongoing trade negotiations, especially with President Trump’s tariff reprieve set to expire next week.

Contributing to the positive sentiment, Canada recently reversed its digital service tax to facilitate trade talks with the U.S. “This decision will support a resumption of negotiations,” stated Canadian Prime Minister Mark Carney. Treasury Secretary Scott Bessent, however, warned that tariffs could still be reinstated if negotiations fail.

A key procedural vote on a significant tax bill passed the Senate on Saturday, further buoying investor confidence. National Economic Council Director Kevin Hassett suggested potential trade deals could be finalized after the bill’s passage.

In individual stock news, BitMine Immersion Technologies witnessed a massive surge in its stock price (over 500%) after announcing a $250 million private placement and the appointment of Fundstrat’s Tom Lee as chairman.

Major bank stocks also opened higher after successfully passing the Federal Reserve’s annual stress test. Goldman Sachs saw a premarket surge of 3.4%, while Wells Fargo, Citigroup, and JPMorgan Chase also saw gains.

Despite the overall positive trend, some analysts are noting potential headwinds. JPMorgan analyst Richard Shane pointed to slowing spending growth among Chase customers.

Overseas, Asia-Pacific markets presented a mixed picture, with Chinese manufacturing activity contracting for the third consecutive month. Meanwhile, Atlanta Fed President Raphael Bostic signaled caution regarding an interest rate cut in July, citing the need for more economic data.

The S&P 500 is currently up over 4% for the month, with the Nasdaq jumping more than 6% and the Dow adding around 4%. This performance marks a significant recovery after earlier market volatility.

Read More