Thu Jul 03 15:40:00 UTC 2025: **Wall Street Climbs to New Highs Amid Trade Optimism and Labor Market Slowdown**

**New York, NY** – U.S. stock markets surged on Wednesday, propelled by renewed hopes for trade deals and mounting evidence of a cooling labor market, strengthening the argument for potential Federal Reserve interest rate cuts.

The S&P 500 closed at a record high of 6,277.42, gaining nearly 0.5%. The Nasdaq Composite also reached a record close, climbing over 0.9% to 20,393.13. The Dow Jones Industrial Average remained nearly flat.

Investor optimism was fueled by President Trump’s announcement of a trade agreement with Vietnam. The deal stipulates that Vietnam will pay a 20% tariff on all goods sent to the US and a 40% tariff on goods that are subject to transshipping. In return, the United States of America will receive TOTAL ACCESS to their Markets for Trade. Footwear stocks led by Nike rose in morning trade on Wednesday after President Trump took to his social media platform Truth Social to share that he made a Trade Deal with Vietnam.

Adding to the positive momentum, new ADP data revealed that private employers unexpectedly cut 33,000 jobs in June, marking the first month of job losses in the private sector in over two years. This data points to a potential slowdown in the labor market, increasing speculation about when the Federal Reserve might begin cutting interest rates. The Bureau of Labor Statistics data is slated for release at 8:30 a.m. ET on Thursday. Economists expect nonfarm payrolls to have risen by 110,000 in June and the unemployment rate to have moved up to 4.3%, according to consensus estimates compiled by Bloomberg.

Individual stock highlights included Apple (AAPL), which saw a boost after an upgrade from Jefferies analysts, and Tesla (TSLA), which climbed after reporting better-than-expected vehicle production for the second quarter, despite declining sales.

**Other Key Market Movers:**

* **Robinhood (HOOD):** Shares touched a record high of $100, fueled by its expansion into tokenized stock and ETF trading in the European Union.
* **Alphabet (GOOGL, GOOG):** DA Davidson analyst reiterated his view that a complete breakup is needed to unlock the value of its individual businesses.
* **Intel (INTC):** Shares fell after reports that the new CEO is considering scrapping the company’s 18A technology for external customers.
* **Centene (CNC):** Shares plummeted after the healthcare insurer withdrew its financial guidance for 2025, warning of lower earnings due to fewer people enrolling in Medicaid and Affordable Care Act marketplaces.
* **Nike (NKE), On Holding (ONON), Deckers (DECK), and Lululemon (LULU):** Spiked in immediate response to the news that a Trade Deal with Vietnam was reached.

Investors will be closely watching Thursday’s June jobs report for further indications of a labor market slowdown and its potential impact on Federal Reserve policy.

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