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Equities Rise Intraday as US-Canada Trade Talks Set to Resume
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Equities Rise Intraday as US-Canada Trade Talks Set to Resume
Jun 30, 2025 11:48 AM

02:15 PM EDT, 06/30/2025 (MT Newswires) -- US benchmark equity indexes rose after midday Monday as the world's largest economy was willing to resume trade talks with Canada, while markets awaited the June employment report due later in the week.

The Dow Jones Industrial Average was up 0.3% at 43,964.6 intraday, while the S&P 500 and the Nasdaq Composite rose 0.2% each to 6,183.1 and 20,307.3, respectively. On Friday, the S&P 500 and the Nasdaq notched all-time high closing levels.

Among sectors, financials paced the gainers intraday Monday, while consumer discretionary saw the biggest drop.

Canada withdrew its digital services tax on technology firms Sunday after President Donald Trump said Friday that the US was terminating all trade discussions with Ottawa over its digital services tax.

Trade discussions between the US and Canada can now resume, The Wall Street Journal reported Monday, citing National Economic Council Director Kevin Hassett.

US Treasury yields were lower intraday, with the 10-year rate decreasing 4.1 basis points to 4.24% and the two-year rate losing 1.1 basis points to 3.73%.

Government data are expected to show Thursday that the US economy added 110,000 nonfarm jobs this month, compared with a 139,000 gain reported for May, according to a Bloomberg poll.

UBS Securities expects a 100,000 print for June. Employment gains in the US are likely to slow down this month sequentially, though not enough to put pressure on the Federal Reserve to ease monetary policy at its next meeting, the brokerage said in a note e-mailed Monday.

Atlanta Fed President Raphael Bostic said Monday that he still sees a single interest rate cut this year, Reuters reported. Bostic reportedly projects three rate cuts for 2026. "I think we actually have some luxury to be patient because labor markets are actually quite solid," he reportedly said.

West Texas Intermediate crude oil was down 0.8% at $64.99 a barrel intraday. Oil prices "struggled" amid concerns regarding plans for increased production from the Organization of the Petroleum Exporting Countries and its allies, D.A. Davidson said in a client note.

In company news, Hewlett Packard Enterprise ( HPE ) shares were up 12%, the top gainer on the S&P 500, while Juniper Networks ( JNPR ) was among the best, up 8.3%. The companies said Saturday they reached a deal with the US Department of Justice to resolve an antitrust lawsuit against Hewlett Packard's ( HPE ) proposed takeover of Juniper.

Boeing ( BA ) saw the steepest decline on the Dow intraday Monday, down 2.8%. The US plane maker's proposed acquisition of Spirit AeroSystems ( SPR ) will be under a phase 1 investigation by the UK Competition and Markets Authority, the competition regulator said Monday. The CMA has set an Aug. 28 deadline for a decision. Spirit AeroSystems ( SPR ) shares fell 0.9%.

Gold was up 0.6% at $3,308.3 per troy ounce, while silver fell 0.4% to $35.89 per ounce.

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