The major indexes on the New York Stock Exchange have once again recorded their highest levels. With the expiration of the Donald Trump administration's tariff policy deferment approaching, it is interpreted that optimism about the conclusion of trade negotiations has stimulated market sentiment.
On the 30th (Eastern Time), the Dow Jones Industrial Average closed at 44,094.77, up 275.50 points (0.63%) from the previous session on the New York Stock Exchange (NYSE). The Standard & Poor's (S&P) 500 index rose by 31.88 points (0.52%) to 6,204.95, while the technology-focused Nasdaq Composite index finished at 20,369.73, up 96.27 points (0.47%).
On this day, the S&P 500 index and Nasdaq index surpassed their previous all-time highs from the prior trading day, setting new records consecutively.
In particular, the withdrawal of Canada's plan to impose a 'digital tax' on U.S. tech corporations the day before has raised optimism for the conclusion of trade negotiations between the U.S. and Canada.
Trump had previously responded strongly to the law imposing a 3% tax on corporations with annual digital service revenues exceeding 20 million Canadian dollars, calling it a 'unilateral discriminatory tariff' and immediately terminating all trade talks with Canada.
As the 90-day implementation deferment of the reciprocal tariff policy is about to expire, optimism for the resolution of trade negotiations has also been presented.
On this day, Kevin Hassett, Chairperson of the White House National Economic Council (NEC), stated in an interview with CNBC that after the tax cut bill being legislated under Republican leadership passes in Congress, President Trump will establish reciprocal tariffs by country.
The day before, President Trump said, "We cannot negotiate with all 200 countries in question," and indicated that further deferments would not take place by commenting that the related letter to be sent in the future would signal 'the end of trade negotiations.'