Friday, June 27, 2025

S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets

S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets

By Stephen Culp

Fri June 27, 2025 4:30 PM  

Today’s PCE data showing weakening consumer spending for a second day strengthened the case for the Fed to cut rates sooner than later and that among other weakening data sent stocks into very substantial 3-digit gains for a second day. The Dow rose over 600 points in the morning session but then, along with all the indexes, took a major dive at about 1 pm before beginning a recovery around 3 pm to close with still substantial gains. It was at about 1 pm when Trump announced the termination of trade negotiations with Canada.  

Both the Nasdaq and S&P are once again flirting with new record highs and the Dow within 2.7% of its record set in December. U of M’s sentiment indicator showed a modest increase in consumer confidence but still well below the post-election reverie last November. The economy continues to hover over the Fed’s 2% inflation target. But overall, “The market’s been pretty resilient. Investors are riding momentum and looking for breakouts.” At 22.07 billion, volume was way above the 4-week average of 18.27 billion. 

DJ: 43,386.84  +404.41      NAS: 20,167.91  +194.36      S&P: 6,141.02  +48.86         6/26

DJ: 43,819.27  +432.43      NAS: 20,273.46  +105.55      S&P: 6,173.07  +32.05         6/27

Fri 6-27-25 4:30 pm S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets | Reuters


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