S&P Nasdaq Rise Vietnam Trade Deal

Wall Street extended its rally on Wednesday as the S&P 500 and Nasdaq Composite closed at fresh record highs, fueled by a strong rebound in tech shares and optimism over a newly signed trade pact between the United States and Vietnam.

The benchmark S&P 500 climbed 0.47 percent to end the session at 6,227.42, while the tech-heavy Nasdaq surged 0.94 percent to 20,393.13. The Dow Jones Industrial Average edged down slightly by 10.52 points, or 0.02 percent, finishing at 44,484.42.

Investors welcomed news of the trade agreement, which imposes 20 percent tariffs on several Vietnamese exports but is seen as a step toward easing long-running tensions. Market sentiment also improved as traders brushed off an earlier dip caused by a weaker-than-expected private payroll report.

Nvidia, Apple, and Tesla helped power the Nasdaq higher. Tesla jumped 5 percent despite posting a sharp drop in quarterly deliveries, as investors judged the results less dire than feared. The leveraged ETF TSLL, tied to Tesla’s daily performance, ranked among the day’s most heavily traded assets.

“There is some relief in regards to progress on trade. The deal with Vietnam was welcomed news,” said Michael Arone, chief investment strategist at State Street Global Advisors.

Meanwhile, concerns lingered over the U.S. economy. ADP’s June payroll data showed an unexpected decline in private sector hiring, raising fresh questions about the labor market’s strength. All eyes are now on Thursday’s non-farm payrolls report, expected to show slower job growth and a slight rise in unemployment.

“A weakening economy is a mixed bag,” said Jim Awad of Clearstead Advisors. “If job softness pushes the Fed to cut rates, that’s supportive for markets — but too much weakness could hurt profits and confidence.”

Market action comes as President Donald Trump’s sweeping tax-and-spend legislation advances to the House for final consideration, with budget analysts projecting the plan could add $3.4 trillion to the national debt over the next decade.

Despite the uncertainty, investor appetite for risk remains strong. The New York Stock Exchange reported 358 new highs and only 41 lows. Trading volume totaled 16.95 billion shares, slightly below the 20-day average.

Markets will be closed Thursday for Independence Day, adding extra weight to the upcoming labor data as the next key signal for monetary policy direction.