S&P 500 Hits Record High After US-Vietnam Trade Agreement

It was upwards on the New York stock exchange with a new record level for the broad S&P500 index after the announcement that the USA has entered into a trade agreement with Vietnam.

» Published: July 02 2025 at 22:16

S&P 500 Hits Record High After US-Vietnam Trade Agreement
Photo: Yuki Iwamura/AP/TT

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S&P 500 index rose 0.5 percent while the technology-heavy Nasdaq closed at a plus of 0.9 percent. The industrial index Dow Jones ended unchanged.

Earlier during the trading day, the stock exchanges were pressed by monthly figures from the payroll administrator ADP, which show that the number of jobs in the private sector in the US decreased by 33,000 in June, contrary to an expected increase of 98,000 new jobs, according to Bloomberg's forecast compilation.

But the message from US President Donald Trump on the Truth Social platform that the US has entered into a trade agreement with Vietnam made the S&P 500 index rise to a new record level. Sports giant Nike and other shoe and clothing manufacturers received a boost as the agreement averts a potential disaster for the industry's supply chains. Nike's share rose 4.1 percent.

On the Nasdaq exchange, electric car manufacturer Tesla received a boost after backing down on Monday and despite Tesla owner Elon Musk's war of words with Trump and sharply falling global sales figures during the second quarter, which were not as bad as feared. The share rose 5.0 percent.

Also, the index-heavy chip manufacturer Nvidia and Apple went up, plus 2.6 and 2.2 percent, respectively.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers
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