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S&P 500 Hits All-Time High on Hopeful US-EU Trade Deal | Closing Bell
Posted
July 23, 2025
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July 23, 2025
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11:05Now PlayingA record-breaking run in stocks gained fuel as the US reached a trade agreement with Japan while speculation grew about a similar deal with the European Union. Treasuries halted a five-day rally and the dollar fell as demand for haven assets waned.
The S&P 500 hit fresh all-time highs on news reports the EU and the US are progressing toward an agreement that would set a 15% tariff for most products. Big techs are kicking off their earnings season, with Google’s parent Alphabet Inc. and Tesla Inc. reporting results. The meme-stock revival saw GoPro Inc. and Krispy Kreme Inc. surging.
Treasury 10-year yields rose four basis points to 4.39%. Bonds remained lower even after a strong $13 billion sale of 20-year securities that tested the appetite for long-maturity debt. Japan’s 40-year government bond auction saw its weakest demand since 2011.
The EU and the US have accelerated talks over the past weeks to avoid a full-blown trade war. Bloomberg News reported that European officials are optimistic that a deal can be reached, but negotiations remain fluid.
President Donald Trump’s top trade negotiators hailed their approach toward addressing grievances with Japan as a possible incentive for the EU.
Commerce Secretary Howard Lutnick said Japan’s pledge of billions in US investments “could be” a model for the EU. Treasury Secretary Scott Bessent stopped short of saying the bloc can win the same sort of deal.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Carol Massar and Tim Stenovec.
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